NCCUL Headline Stories

Compliance News: NCUA Issues Regulatory Alert to Credit Unions on Garnishments

Posted on August 10, 2011

The Alert provides federally insured credit unions guidance on the interim final rule – Garnishment of Accounts Containing Federal Benefit Payments. In general, the rule establishes procedures credit unions must follow when a garnishment order is received on a member’s account that receives certain federal benefit payments by direct deposit.  The Alert also provides a link to the Treasury’s document, Guidelines for Garnishment of Accounts Containing Federal Benefit Payments. 


 

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