Garnishment Practices: Has the Dust Settled or Is It Still Flying? — The Consumer Finance Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
When a consumer fails to pay a debt, the creditor may engage in proceedings to collect, which may result in a court issuing a garnishment notice directing a bank to freeze and turn over funds in the consumer's deposit account...more
Nearly one month after Federal Judge Marvin Shoob, of the United States District Court for the Northern District of Georgia, ruled that Georgia's garnishment law is unconstitutional, on Monday, October 5, 2015, Judge Shoob...more
Across Georgia, employers are opening their mailboxes to discover that courts have returned checks that employers previously submitted to satisfy garnishment actions. This is the result of decisions by many courts across...more
On April 1, the Office of the Comptroller of the Currency (OCC) issued the “Garnishment of Accounts Containing Federal Benefit Payments” booklet, which is new to the Comptroller’s Handbook. The booklet contains interagency...more