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Processing Garnishments on Federal Benefit Payments

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

OnDemand
Recorded Tuesday,
October 11th, 2022
Presented by Terri D. Thomas
1h 30m total length
$195.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

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

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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. The rule supersedes the laws of many states pertaining to how financial institutions process garnishments. It will also apply to the processing of state tax levies and warrants. This webinar will not cover the specific garnishment or levy process of any particular state.

What You'll Learn

  • A general review of the requirements for processing garnishments and state tax levies under the final rule
  • The special terminology that applies
  • The detailed steps credit unions need to take when processing garnishment and levy requests
  • Examples of how the rules impact garnishment and levy answers, and hold amounts
  • Model language and sample forms that can be used when providing notice pursuant to the rules

Who Should Attend

Compliance officers, legal counsel and credit union personnel who process garnishments will benefit from attending this webinar.


Terri D. Thomas

Instructor Bio

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.

Receiving her Bachelor of Arts degree from Kansas State University in 1985, Terri continued her education at Washburn University School of Law and obtained her Juris Doctor in 1988. She has served as an Adjunct Professor at Washburn University School of Law in Topeka, Kansas and the University of Kansas School of Law in Lawrence, Kansas, and is a frequent seminar presenter for financial associations in the Midwest.