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Garnishment Rule

Understand your bank's obligations when a creditor requests an account holder's funds be garnished - including which requests must be honored, and how to handle disputes.

ABA has worked closely with Treasury and the banking agencies on trying to address the needs of all parties. Treasury issued a final rule on May 29, 2013. While any change in garnishment procedures will result in additional burden for the industry, we supported the Treasury proposal (with several suggested changes) because it attempts to address the industry's concerns in a manner that appears workable and less burdensome than other alternatives under consideration.

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