Compliance Aspects of the New Garnishment Guidelines

Webinar: ID# 1000697
About This Course:
The Treasury Department's new rules on garnishing accounts that receive federal benefits payments has been in effect a few months now - are you still being tripped up?

In this webinar, we'll discuss in detail the issues surrounding the rule, plus share valuable tips for effective compliance.

Many bankers are still a little confused on the 2-month lookback period, exactly what is covered, and what is not.

There are also questions around how to handle joint accounts, or even multiple garnishment orders. We'll go into detail to clear up any misconceptions and confusion, and provide a clear road map of how the process should work. We'll also provide helpful compliance tips, many examples, and samples of the notices required as part of the rule.What You'll Learn:

  • Exactly what types of payments are covered, and what types of orders are covered under "garnishments"
  • Identifying covered payments by looking at ACH information
  • Definition of account and accountholders
  • The proper notices and when to provide them (examples included)
  • The account review process - a step-by-step guide of determining the lookback period (examples included)
  • Figuring how to handle multiple accounts and account co-owners
  • Determining the protected amount and what to do once this is figured
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