This part applies to:

1. (a) Entities. All financial institutions, as defined in § 212.3.

2. (b) Funds. Federal benefit payments protected from garnishment pursuant to the following authorities:

   1. (1) SSA benefit payments protected under 42 U.S.C. 407 and 42 U.S.C. 1383(d)(1);
   2. (2) VA benefit payments protected under 38 U.S.C. 5301(a);
   3. (3) RRB benefit payments protected under 45 U.S.C. 231m(a) and 45 U.S.C. 352(e); and
   4. (4) OPM benefit payments protected under 5 U.S.C. 8346 and 5 U.S.C. 8470.