Quiz for B2B: Garnishment of Federal Benefits Rule – The Basics

1. Which of the following payments would be considered a protected federal benefit under the rule?

2. An account review is required to be performed –

3. When a Notice of Right to Garnish Federal Benefit Payments is attached to a garnishment order, a bank should:

4. Upon receipt of a garnishment order, the bank should immediately freeze any account subject to the order:

5. When conducting an account review, which of the following may the bank consider?

6. The protected amount is the amount of funds which must be frozen to ensure there are sufficient funds to pay the debt subject to the garnishment order:

7. On a joint account – who is required to receive notice of the garnishment order?

8. When may the bank charge a garnishment fee?

9. What is the record retention requirement for garnishment orders?

10. Which of the following could not be established by the bank as the protected amount?