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Banking Sector Financial Services Industry Garnishment

Troutman Pepper

Garnishment Practices: Has the Dust Settled or Is It Still Flying? — The Consumer Finance Podcast

Troutman Pepper on

Please join Troutman Pepper Partner Chris Willis, along with colleagues Lori Sommerfield and Mary Zinsner, as they discuss the impact of a consent order issued by the Consumer Financial Protection Bureau (CFPB) in May 2022...more

Holland & Knight LLP

CFPB Targets Garnishment Practices: Banks Need a Robust Compliance Plan

Holland & Knight LLP on

When a consumer fails to pay a debt, the creditor may engage in proceedings to collect, which may result in a court issuing a garnishment notice directing a bank to freeze and turn over funds in the consumer's deposit account...more

Hudson Cook, LLP

CFPB Fines Very Large Bank $10 Million for Allegedly Unlawful Garnishments

Hudson Cook, LLP on

Highlights: One of the nation's largest banks agreed to entry of a consent order to settle CFPB allegations that the bank unlawfully froze customer accounts, charged them garnishment fees, and turned over funds to creditors...more

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