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Financial Services Industry Garnishment

Troutman Pepper

Minnesota House Passes Key Provisions of Debt Fairness Act

Troutman Pepper on

On April 15, the Minnesota House of Representatives passed the Commerce Policy Omnibus bill, which includes key provisions of the Minnesota Debt Fairness Act. Minnesota AG Keith Ellison supports this bill and celebrated its...more

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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