§515.587 Remittances from Cuban nationals to persons subject to U.S. jurisdiction.
Persons subject to U.S. jurisdiction are authorized to receive remittances in the United States from Cuban nationals, wherever located, provided that the remitter is not a prohibited official of the Government of Cuba, as defined in §515.337, or a prohibited member of the Cuban Communist Party, as defined in §515.338. Nothing in this paragraph authorizes a transaction relating to the collection, forwarding, or receipt of remittances involving any entity or subentity identified on the Cuba Restricted List, as published in the Federal Register and maintained by the State Department and available at https://www.state.gov/cuba-sanctions/cuba-restricted-list/.”
Note to §515.587: See §515.572 for an authorization to provide services related to the receipt of remittances authorized by this section.
1) The CACR's remittance scheme is set up such that 515.587 handles remittances from Cuban national to U.S persons, and 515.570 addresses the reverse (compare all other remittance GLs, consolidating both directions in on license).
2) Note that all other remittance GLs (e.g. 560.550, 542.512 and 510.511 are explicitly limited to " Noncommercial, personal remittances" that are not "for the benefit of an entity or funds transfers for use in supporting or operating a business, including a family-owned business." Query whether and to what extent the absence of an explicit purpose limitation means that the scope of the GL is broader than its analogues, including 515.570 (remittances to Cuba), which attends to purposes as well. Unqualified, "remittance" is not a narrowly defined term, [1] but compare guidance letters issued in connection with the ITSR categorized as dealing with remittances. In Case No. IA-2012-295053-1, OFAC considered "loans" (as opposed to "gifts") even from immediate family members to fall outside of the scope of the general license for personal remittances, even where the loans were non-commercial in nature.
For the CACR, it is possible that OFAC would consider loans to potentially fall within the meaning of the term "remittance" with respect to the sending of the money, but consider the continued holding of an obligation to repay (or be repaid) to be an unauthorized dealing in property in which a Cuban national has an interest.
[1] See e.g. https://www.merriam-webster.com/dictionary/remittance.
3) Provision amended on 11-26-2020 to add a sentence to the end of paragraph (a) that effectively disables the remittance GL at in 515.587 insofar as the remittance transactions involve Cuba Restricted List entities. The amendment has the effect of prohibiting the remittance-related transactions not through the alteration of the scope of the prohibition at 515.209, which deals with direct financial transactions involving CRL entities, but instead through the amendment to 515.421, which removes remittance-related transactions involving CRL-listed entities from the scope of transactions authorized as “ordinarily incident” to certain otherwise-authorized remittance transactions, including 515.587. Remittance-related transactions that involve CRL-listed entities as payment processors fall outside the scope of the prohibition at 515.209 of the CACR because they are not “direct financial transactions” with CRL-listed entities.