CFPB Fines BofA $10M for Improper Garnishments

Account Recovery

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Bank of America, in which the nation’s second-largest financial institution will pay a fine of $10 million after it was accused of unlawfully garnishing $592,000 from its customers’ bank accounts.

Garnish-mentions

Account Recovery

As we turn our attention to another episode of “All My Garnishments” there have been a number of developments aimed at keeping debt collectors from garnishing the economic stimulus funds that are now being deposited into the bank accounts of consumers nationwide.

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Appeals Court Upholds Dismissal of FDCPA Suit Over Garnishment

Account Recovery

Court of Appeals for the Ninth Circuit Garnishment Washington Consumer Protection Act

Appeals Court Upholds Ruling For Plaintiff in FDCPA Case Over Garnishment Jurisdiction

Account Recovery

The Court of Appeals for the Sixth Circuit has affirmed a lower court’s ruling in favor of a plaintiff who accused a collection law firm of violating the Fair Debt Collection Practices Act by obtaining a writ of garnishment in the wrong jurisdiction.

Maine Enacts Law Raising Garnishment Protections

Account Recovery

By virtue of not vetoing it, a new law has been enacted in Maine that expands the protections consumers will have with respect to garnishments, including for the first time, funds that consumers have in their bank accounts. Compliance Garnishment LD 737 Maine

Toomey Blocks Anti-Garnishment Legislation From Moving Forward in Senate

Account Recovery

Previously, on “All My Garnishments” we saw several characters rush to protect the economic stimulus funds that have started landing in consumers’ bank accounts from being garnished by big, bad debt collectors. Pat Toomey Wage Garnishment

CFPB Orders Bank of America to Pay $10 Million Penalty for Illegal Garnishments

Consumer Finance

The Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against Bank of America for processing illegal, out-of-state garnishment orders against its customers’ bank accounts.

Virginia AG Offers Reminder of New Law Protecting Stimulus Funds From Garnishment

Account Recovery

Now that the second round of stimulus checks have started to be distributed, the Attorney General of Virginia is touting a new law that went into effect in late October that will protect those funds from being garnished or seized as part of a judgment.

3 critical things to know about wage garnishments

Albuquerque Law

million people across the United States had their wages garnished to pay debts. Wage garnishments are a common tactic creditors use to collect debts. We have discussed the important aspects of New Mexico’s laws regarding wage garnishments in previous blog posts. However, here are three additional – and essential – things you must understand about wage garnishments. You can challenge garnishments. Garnishments do not affect all your income.

Groups Call for Stimulus Funds to be Protected From Garnishment; Legislative Proposal Forthcoming

Account Recovery

To that end, we have legislation that is … The post Groups Call for Stimulus Funds to be Protected From Garnishment; Legislative Proposal Forthcoming appeared first on AccountsRecovery.net. Compliance American Rescue Plan Act of 2021 COVID-19 Garnishment Stimulus

Calif. AG Issues Warning That Child Tax Credits are Exempt From Garnishments

Account Recovery

AG Issues Warning That Child Tax Credits are Exempt From Garnishments appeared first on AccountsRecovery.net. Compliance American Rescue Plan American Rescue Plan Act of 2021 COVID-19 Garnishment Wage Garnishment

Garnishment Protection Bill Advances in Va. Legislature

Account Recovery

Even as many states are moving to ease collection restrictions that were put into place at the start of the coronavirus pandemic, the Virginia legislature is moving forward with a bill that would protect the economic stimulus payments received by individuals from being garnished by debt collectors.

How To Stop Wage Garnishment Without Bankruptcy

Luftman, Heck & Associates.

Are your wages being garnished to pay off a debt? Request a Court-Appointed Trustee Under Ohio law, you may be able to avoid wage garnishment if you enter into a trusteeship. Trusteeships can stop wage garnishment and prevent creditors from harassing you for Read More.

Daily Digest – May 5. Getting to Know Debbie Frank of Credit Bureau Services; CFPB Fines BofA $10M for Improper Garnishments

Account Recovery

Getting to Know Debbie Frank of Credit Bureau Services; CFPB Fines BofA $10M for Improper Garnishments appeared first on AccountsRecovery.net.

Judge Denies MTD on FDCPA Claims Over Garnishment Info Sent to Wrong Person

Account Recovery

Patenaude & Felix Garnishment Judge John Coughenor MTD

Sep 10, Can I get my wages garnished without notice?

Debt Collection Answers

Can your wages be garnished without notice from your employer? And how do you stop wage garnishment? Find out what to do

Judge Denies MTD in FDCPA Case Over Garnishment SOL

Account Recovery

CFPB orders Bank of America to pay $10 million penalty for illegal garnishments

Public Citizen

The Consumer Financial Protection Bureau has finalized an enforcement action against Bank of America for processing illegal, out-of-state garnishment orders against customers’ bank accounts. The CFPB's press release, with links to relevant documents, is here

Local Governments Scrambling to Protect Residents as Moratoriums End; N.M. Announces Phased Restart to Garnishments

Account Recovery

Announces Phased Restart to Garnishments appeared first on AccountsRecovery.net.

Can My Stimulus Check Be Garnished for Credit Card Debt?

Credit Corp

But those who are struggling with debt might wonder: Can my stimulus check be garnished for credit card debt or other money owed. In some cases, the money you get from the third stimulus could be garnished. That means if you have credit card debt, your stimulus funds might be garnished.

Calif. Garnishment Law Set to Go Into Effect Next Week

Account Recovery

An online press conference has been scheduled for later today to discuss a new law that is going into effect in California next week that limits how much debt collectors can garnish from an individual’s bank account when seeking repayment on unpaid debts.

Can Stimulus Checks Be Garnished in California?

Direct Recovery

Like many other consumer-focused states, California has put a number of different protections in place that forbid debt collectors from garnishing those valuable stimulus checks. The post Can Stimulus Checks Be Garnished in California?

Senate Passes Bill Preventing Collectors From Garnishing Stimulus Payments

Account Recovery

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act from being garnished by debt collectors, similar to … The post Senate Passes Bill Preventing Collectors From Garnishing Stimulus Payments appeared first on AccountsRecovery.net.

Daily Digest – August 3. Judge Grants MSJ for Defendant in FDCPA Vicarious Liability Case; N.M. Announces Phased Restart to Garnishments

Account Recovery

Announces Phased Restart to Garnishments appeared first on AccountsRecovery.net.

Daily Digest – August 25. Calif. Garnishment Law Set to Go Into Effect Next Week; Judge Grants MTD in FDCPA Case

Account Recovery

Garnishment Law Set to Go Into Effect Next Week; Judge Grants MTD in FDCPA Case appeared first on AccountsRecovery.net. CALIF.

Senate Unveils Overview of Latest Stimulus Bill, Garnishment Exemption to be Included

Account Recovery

NCLC Report Rates States on Exemption Laws

Account Recovery

General News Exemption Laws Garnishment National Consumer Law Center

Daily Digest – August 27. Getting to Know Erin Kerr of MRS; Va. Legislature Advances Garnishment Bill

Account Recovery

Legislature Advances Garnishment Bill appeared first on AccountsRecovery.net. GETTING TO KNOW ERIN KERR OF MRS BPO Erin Kerr’s job title is emblematic of the changing dynamic within the credit and collections industry.

Can a NY Judgment Creditor Garnish PPP or Other CARES Act Funds?

FFGN COLLECT NY

With both consumers and small businesses receiving funds from the Paycheck Protection Program (PPP) and CARES Act, questions have come up as to whether these amounts can be frozen or garnished by debt collectors or creditors. Garnishing Economic Impact Payments.

Daily Digest – March 19. Judge Grants MSJ for Plaintiff Over Status of Debt; Toomey Blocks Anti-Garnishment Law

Account Recovery

Judge Grants MSJ for Plaintiff Over Status of Debt; Toomey Blocks Anti-Garnishment Law appeared first on AccountsRecovery.net.

An In-Depth Guide to Bank Account Garnishment in Texas and How to Avoid It

Debt RR

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Review this guide for everything businesses need to know about bank account garnishment in Texas and how to avoid it. What is Bank Account Garnishment and What Can Cause It?

Daily Digest – October 16. Encore to Pay $15M to Settle CFPB Suit; Judge Denies MTD in FDCPA Case Over Garnishment SOL

Account Recovery

Encore to Pay $15M to Settle CFPB Suit; Judge Denies MTD in FDCPA Case Over Garnishment SOL appeared first on AccountsRecovery.net.

8th Cir. Holds FDCPA Plaintiff Lacked Article III Standing In Garnishment Communication Case

Collection Industry News

In Minnesota, a creditor may issue a garnishment summons to any third party “at any time after entry of a money judgment in [a] civil action.” The statute further provides that a copy of the garnishment summons, copies of other papers served on the third-party garnishee, and the applicable garnishment disclosure form “must be served by mail at the last known mailing address of the debtor not later than five days after the service is made upon the garnishee.” § 571.72, subd.

The Difference Between Post Judgment Collection Attachment and Garnishment — How Both Can Benefit You in Debt Recovery

Collections Law

You may have heard the words “attachments” and “garnishments” thrown around. Cohen LLC knows when to effectively use attachments and when wage garnishments are appropriate and likely effective. The How’s and Why’s of Garnishments.

Mass. AG Sings Familiar Tune Warning Collectors From Trying to Seize Stimulus Funds

Account Recovery

Like Summer follows Spring and Fall follows Summer, so too does another round of reminders to debt collectors that stimulus funds are protected from garnishment follow the latest round of stimulus payments now being sent to individuals across the country in the form of the child tax credit.