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CE Credits: 1.25 CRCM
Description: In this webinar, we will take an in-depth look at the Garnishment Rule and how it affects a consumer’s account. The Garnishment Rule covers what federal benefits are protected from levies and the responsibilities of an institution when an account is subject to a garnishment order. Considerations required under the rule include when an account may be frozen, what funds are exempt to the garnishment rule, and how notice must be provided when a garnishment order is received. Join us as we discuss the critical compliance concerns of the regulation, as well as outline which funds are subject to the rule. Finally, we will examine the protections available to bankers under the Safe Harbor Rule and the good faith requirements for receiving such protections.
Key takeaways include:
- Learn which funds are protected from and what funds are subject to the Garnishment Rule
- Understand a banker’s responsibilities when executing a garnishment order
- The good faith requirements for claiming the rule’s Safe Harbor protections
People who should attend: Branch Personnel, Account Opening Personnel, and Compliance Officer/Personnel, and any personnel addressing and responding to requests for information.
Presenter: Erin Busse, JD, Compliance Officer
Erin serves as Compliance Officer for Compliance Alliance. Erin graduated magna cum laude from Loyola University New Orleans with a Bachelor’s degree in Psychology and a Bachelor’s degree in English She earned her Juris Doctor from Saint Louis University School of Law. Erin began her career working in family law and estate planning, where she deepened her passion for helping provide others with security through financial clarity.
Erin’s experience in family law has led her to develop resolutions for a myriad of day-to-day financial issues and situations. While obtaining her law degree, Erin geared her studies towards business and financial subjects within the law, such as transactional drafting, bankruptcy, and securities trading. Erin also has experience preparing estate plans and other asset disposition documents, providing recommendations to implement customers’ long-term needs and goals.