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Federal Benefit Payments Garnishment Requirements

Date: Thursday February 27th 1:30 pm - 3:30 pm CT | Cost: $265 and 2.5 CE Credits

Federal Benefit Payments Garnishment Requirements

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 Final Rule on the Garnishment of Accounts Containing Federal Benefit Payments. The final 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.

Covered Topics:

- 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 financial institutions 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 bank personnel who process garnishment answers

Speaker: Terri D. Thomas is Senior VP and Legal Department Director for the Kansas Bankers Association. Prior to this, she was with "Bankers Choice," a financial consulting firm. Before this, Terri was employed in the financial industry for over twenty-three 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. 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. Previously, she served as an adjunct instructor at Washburn University School of Law and the University of Kansas School of Law and is a frequent presenter for banking schools and financial associations.

Federal Benefit Payments Garnishment Requirements

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