8:00 am – 9:30 am PT
9:00 am – 10:30 am MT
10:00 am – 11:30 am CT
11:00 am – 12:30 pm ET
By accepting recurring federal benefit payments, your institution has agreed to satisfy certain requirements and obligations that you may not realize. For instance, your institution must protect a specific amount of federal benefit payments from certain garnishments and levies, and possibly from your institution’s right of setoff. Further, your institution is obligated to reimburse the federal government in accordance with its reclamation process even if the federal benefit payments have been withdrawn from the account. This webinar will examine the procedures mandated by the federal government and will explain how to calculate the amount of federal benefit payments that must be protected. Learn the steps that your institution must take to reduce your risk of loss in the federal government’s reclamation process.
Continuing Education: Attendance verification for CE credits upon request
- Which federal benefit payments are covered by these special rules?
- What are the mandated procedures for accounts receiving federal benefit payments?
- Learn to calculate the amount of federal benefit payments that you must protect
- What is the difference between a representative payee and a power of attorney?
- When is your institution required to reimburse the federal government for federal benefit payments?
- When can your institution set off an account containing federal benefit payments?
- TAKE-AWAY TOOLKIT
- Green Book – Guide to Federal ACH Payments
- Official Guidelines for Garnishment of Accounts Containing Federal Benefit Payments
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session will be useful to all deposit operations personnel, account service representatives, compliance personnel, collection personnel, auditors, attorneys, and managers.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.