Garnishments and levies are a regular reality. However, improper handling of these complicated legal documents can expose your financial institution to considerable liability. Ensure your staff understands the nuances, notices, calculations, and requirements with this timely webinar.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Explain your institution’s legal responsibilities in processing garnishments and levies
- Understand special procedures for accounts containing federal benefit payments and how to calculate the accountholder’s protected amount
- Determine whether to attach a joint account or an account held by a trust, sole proprietorship, corporation, or other entity
- Define when your institution can favor itself before processing a garnishment or levy
- Provide timely, required notices to accountholders regarding garnishments or levies
Many financial institutions handle garnishments and levies daily. But has your staff received proper training? Foregoing training can expose your institution to significant liability. This webinar will cover all aspects of garnishments and levies, and the situations in which they are served. Learn the steps in properly handling these legal documents, such as identifying accounts, placing account holds, answering interrogatories, notifying the accountholder, and remitting funds. You also will learn the special requirements and procedures for accounts that receive federal benefit payments.
WHO SHOULD ATTEND?
This informative session will benefit deposit operations personnel, account service representatives, tellers, collectors, compliance personnel, privacy officers, auditors, attorneys, and managers.
- Garnishment of Accounts Containing Federal Benefit Payments issued by the Department of the Treasury
- Sample accountholder notice form
- Employee training log
- Interactive quiz
SPEAKER: Elizabeth Fast, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.