Browsing: Garnishment

Newsbytes

As Congress today passed the $1.9 trillion COVID-19 relief bill—which includes an additional round of economic impact payments for eligible taxpayers—ABA joined a coalition of financial and consumer advocacy groups urging Treasury Secretary Janet Yellen to support standalone legislation to ensure that these payments are shielded from assignment and garnishment.

Newsbytes

As Congress prepares to pass the $1.9 trillion COVID-19 relief bill—which includes another round of $1,400 economic impact payments—the American Bankers Association joined a coalition of financial and consumer groups urging lawmakers to shield these EIPs from assignment and garnishment. In a letter to House and Senate leaders, the groups emphasized that absent immediate legislation, banks and other financial institutions are legally required to comply with court orders.