The addition would represent ‘sensitivity to market risk,’ and will require changes to NCUA systems.
Learn more about the Supreme Court’s decision; your question answered on refunding garnishments; plus this week’s legal briefs.
What do we do if a member says he is filing bankruptcy and we just received a garnishment?
How do we handle a garnishment for someone with multiple types of accounts? Our Compliance Question of the Week works through the complexities.
New amendments to the Garnishments of Federal Benefits Payments Rule take effect June 28. This week’s compliance report explains new definitions and credit union responsibilities.
We received a garnishment for a member who receives “protected benefits,” but the benefits come in the form of a check. The member is telling us that we have to give him his money back. What do we do?
New legislation addressing garnishments in Washington took effect June 7. The only change that affects credit unions is related to the contents of the garnishment writ.
This review of compliance changes effecting human resources outlines changes on the national front, including the new VOW to Hire Heroes Act of 2011, as well as modifications to Oregonâ€™s garnishment rules and handling of jury duty.
The NCUA has offered guidance to help credit unions comply with a joint interim final rule that addresses garnishment of accounts that include federal benefits payments.
Is a garnishment order written by an attorney subject to the new rules regarding protecting Federal Benefits Payments from garnishment?
CUs must review accounts for Federal Benefit Funds only upon receipt of a garnishment order, but there is some confusion in the rule’s definitions.
Late last week the Treasury released its interim final rule that will make radical changes to your credit unionâ€™s garnishment proceedings. This rule applies unless the garnishor is the Federal government or a State child protection agency.