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Tuesday,
August 21, 2012
12:00 pm - 1:30 pm PT
1:00 pm - 2:30 pm MT
2:00 pm - 3:30 pm CT
3:00 pm - 4:30 pm ET
Meet the Presenter
Elizabeth Fast, JD & CPA, Spencer Fane
Britt & Browne LLP
CLICK HERE TO LEARN MORE ABOUT YOUR REGISTRATION OPTIONS
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Has your credit union implemented the proper procedures for handling garnishments, levies, and other demands for member funds? Most credit unions deal with these matters daily, but many do so without proper training. Handling these matters improperly can expose your credit union to significant liability. This seminar will explain these complicated legal documents and the situations when they are served on the credit union. Learn the necessary steps to handle these matters, such as identifying accounts, placing account holds, answering interrogatories, notifying your member, and remitting the funds. This presentation will also review the garnishment procedures that became effective on May 1, 2011, for accounts containing certain federal benefit payments.
HIGHLIGHTS
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What financial privacy restrictions are imposed on your credit union when responding to these legal processes?
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What risks are imposed on the credit union?
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When are you required to notify your member?
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What if your credit union holds a security interest in the funds?
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What if an account is held by more than one member or held by a trust, sole proprietorship, corporation, etc.?
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Garnishment procedures for accounts containing federal benefit payments
WHO SHOULD ATTEND?
This informative session will be useful to deposit operations personnel, member service representatives, tellers, compliance personnel, auditors, and managers.
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