What You'll Learn
Federal law requires banks to periodically reassess their garnishment procedures. Financial institutions have a responsibility to determine where funds originated and if those funds are exempt from garnishment or levy.
Customer-facing and back-office staff frequently receive garnishments, subpoenas, summonses, and levies in connection with regulatory enforcement actions and government investigations. Depending on the nature of the inquiry, there are several questions as to how bank employees should address these requests.
This bank webinar reviews best practices for financial institutions and covers:
- The basics for understanding a garnishment, levy and subpoena
- How these items are issued and the response expectations from a financial institution
- Financial institutions’ responsibility in responding to authorities
- Identifying exempt and non-exempt funds for a garnishment
Who Should Attend:
- Risk Managers
- Operations Managers
- Compliance Managers
- Executive Management
- In-house Legal Staff
About the Author:
Kelly Rozier is an Associate in the Commercial Litigation & Forensic Services group at Stout. She has 14 years of banking experience; specializing is Electronic Payments, Prior to joining Stout, Kelly was responsible for the payments governance and oversight for an 18 billion in assets financial institution. Kelly actively participated as a direct member of the National ACH Association’s Accredited Payments Risk Professional (APRP) that establishes the APRP test.
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