Responding to Official Demands for Customer Funds: Subpoenas, Garnishments, Summonses & Levies
Wednesday, September 6, 2017
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
Has your financial institution implemented proper procedures for handling garnishments, subpoenas, summonses, and levies? Most institutions handle these complicated legal documents daily, but many do so without the proper training. This webinar will explain these legal processes, potential liability, and the situations when documents may be served on your institution. Join us to understand how to handle legal processes, such as identifying accounts, placing account holds, answering interrogatories, notifying the accountholder, and remitting funds. You will also learn the special garnishment procedures for accounts that receive federal benefit payments.
Continuing Education: Attendance verification for CE credits upon request
- What financial privacy restrictions are imposed when responding to these legal documents?
- How do you know if it is an official document or a fake?
- What risks are imposed on your institution?
- When is your institution required to notify the accountholder?
- What if your institution holds a security interest in the funds?
- What if an account is held by more than one person or by a trust, sole proprietorship, corporation, etc.?
- What are the special procedures for accounts containing federal benefit payments?
- TAKE AWAY TOOLS
- Official Guidelines for Garnishment of Accounts Containing Federal Benefit Payments issued by the Department of the Treasury
- Sample notice form to be sent to accountholders
- 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 deposit operations personnel, tellers, account service representatives, collectors, compliance personnel, auditors, attorneys, and managers.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.