Responding to Federal Levies and Other Garnishments

RELEASE DATE:  SEPTEMBER 9, 2024
ESTIMATED DURATION: 60 MINUTES

The federal government has made it very clear it wants to increase its collections efforts.   Add to that the rising delinquency levels and we have a recipe for problems.   Creditors are always on the hunt for additional recoveries and they do not take kindly to being ignored.  Your credit union needs to be prepared and understand what to do when you receive a garnishment or levy requiring you to hand over a member’s funds. Understanding the rules and avoiding common landmines will help reduce the risk and potential liability of an improper response.

Note:  This program will discuss only federal levy and general garnishment rules and procedures and is intended for credit unions from all states.

MEET THE SUBJECT MATTER EXPERT

Attorney, author, consultant and nationally recognized trainer, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC.  Through Reed and Jolly, Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters and corporate governance. In addition to his legal expertise, Mr. Reed is a Certified Fraud Examiner and Chairman of a Supervisory Committee.

A former trial attorney and Vice President and General Counsel of Apple Federal Credit Union, Mr. Reed is particularly noted in the areas of credit union operations, governance, security, bankruptcy and collections.  He has been selected to train federal and state field examination staff on numerous issues including BSA, Field of Membership, ID Theft Red Flags, S.A.F.E Act, Third Party Contract Management, Cybersecurity and Bankruptcy.