When a writ of garnishment, tax levy, or other legal process is served on your institution, the bank’s obligations begin immediately. The bank stands between the creditor and the customer with obligations running to both (and the court). Common errors such as failing to respond appropriately, freezing the wrong funds (or failing to freeze them!), or missing a required exemption can create direct liability exposure and put the bank in the middle of legal quicksand.
This webinar is designed for deposit operations teams, branch personnel, and compliance staff who handle legal process. We will focus on:
- The types of process your institution will encounter most frequently, including in-state and out-of-state garnishments, IRS levies, comptroller levies, and attorney general child support orders — and how the response obligations differ for each.
- Federal benefits protections and the required review process, including which funds must remain accessible to the account holder and what happens when funds “escape”
- An operational workflow your team can implement, from verifying proper service and identifying the correct customer through freezing funds, answering the order, and turning over proceeds correctly
Practical guidance with real-world application for situations encountered every day.