Skip to content

Examiners and bank garnishment and subpoena procedures

Answered by: 

Will our FDIC examiners be reviewing how we handle garnishments and subpoenas?

It’s certainly possible, because there is a federal regulation that requires specific steps in handling garnishments when certain federal benefit payments might be involved. As customers age, more and more of them will receive one or more of those federal payments, expanding the significance of your compliance with that regulation. Examiners from the other prudential regulators are also likely to be interested in how banks and credit unions handle those claims. Larger banks may experience CFPB scrutiny of their procedures.

Learn more about John Burnett's
Managing Third-Party Claims for Funds and Information webinar.

First published on 02/18/2024

Search Topics