Processing Garnishments on Accounts Containing Federal Benefit Payments

Date:

Jul 18, 2024

Register

This webinar provides participants with the federal rules that are applicable when processing garnishments on deposit accounts receiving federal benefit payments.

On May 29, 2013, the U.S. Department of Treasury, along with several federal agencies including the Social Security Administration, the Department of Veterans Affairs, the Railroad Retirement Board, and the Office of Personnel Management, published the Rule on the Garnishment of Accounts Containing Federal Benefit Payments.

This rule supersedes the laws of many states pertaining to how financial institutions process garnishments. It also impacts the processing of state and local tax warrants served on deposit customer accounts.

Participants will learn about the federal requirements and best practices used in processing garnishments on accounts containing federal benefit payments, as well as the areas where violations occur.

Agenda

July 18, 2024
11:00 am - 1:00 pm EST

What You'll Learn

  • Requirements for processing garnishments and state tax levies under the rule
  • Terminology that applies
  • The detailed steps financial institutions need to take when processing garnishment and levy requests
  • Examples of how the rules impact garnishment
  • Model language and sample forms when providing notice pursuant to the rules
Topics
  • Accounting/Reporting
  • Risk Management/Legal

Roles

  • Bank Legal Counsel
  • Compliance Officer
  • Deposit Operations Manager/Specialist
  • Risk Manager
  • Senior Management
  • Training Manager
  • Trainer

Who Should Attend
Compliance officers, legal counsel, and financial institution personnel who process garnishment answers will benefit greatly from this course.

Speaker

Terri D. Thomas, JD is the Director of the Kansas Bankers Association Legal Department, which specializes in providing compliance and legal assistance to Kansas banks.

Terri has worked with financial institutions for over thirty-nine years in various capacities. Most notably, she served for fourteen years as in-house legal counsel and trust officer for Bank of America and its Kansas predecessors. She has also served as a trust department manager and branch manager.

Fees

$299.00 or 1 Token

Available Upgrades

  • 12 Months OnDemand Playback $120.00
  • 12 Months OnDemand Playback + Digital Download $150.00
  • Additional Live Access $95.00 per person
Association Contact

AyZha Hazelwood, Education Meeting Coordinator
Ahazelwood@indiana.bank
317-387-9380