Freezing Funds And Other Key Provisions: Treasury Rule On Garnishment Of Deposit Accounts Containing Federal Benefits

LexisNexis ( April 14, 2022, 11:03 AM EDT) -- For the financial institution, a garnishment order is a red flag signaling customer financial insecurity.  There are certain federal benefits received by consumers administered by four federal agencies protected under federal law from garnishment by creditors. A threshold question for financial institution receiving a garnishment order is whether a federal exemption applies....