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NCLC Report Grades States on Garnishment, Judgment Protections

Account Recovery

A report issued last week by the National Consumer Law Center grades each state on its exemption laws, which determine how much consumers can protect from judgments and garnishments, determining that none of the 50 states or other territories meet what the organization defines as the five basic standards.

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Industry Vows to Appeal Ruling Denying Challenge to Arizona Garnishment Law

Account Recovery

… The post Industry Vows to Appeal Ruling Denying Challenge to Arizona Garnishment Law first appeared on AccountsRecovery.net. The post Industry Vows to Appeal Ruling Denying Challenge to Arizona Garnishment Law appeared first on AccountsRecovery.net.

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Judge Grants TRO Blocking Enactment of New Garnishment Law in Arizona

Account Recovery

A state court judge in Arizona has granted a temporary restraining order halting the enactment of a measure approved by voters last month that increases the amount that is shielded from garnishments to pay medical debts while also lowering judgment interest rates that can be charged.

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Bill Introduced in House to Raise Garnishment Protections

Account Recovery

A bill has been introduced in the House of Representatives that seeks to amend the Consumer Credit Protection Act and protect more of consumers’ wages from garnishment while also amending the Fair Debt Collection Practices Act to prevent collectors from taking any action, including making threats, of having consumers arrested or imprisoned in (..)

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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.

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Judge Rules Against Industry in Suit Over Arizona Garnishment Initiative

Account Recovery

A state court judge in Arizona yesterday rejected an industry-led challenge to a voter initiative that is scheduled to be on the ballot this November that would raise the limits on what can be shielded from wage garnishments while also lowering the judgment interest rate, leading the group to quickly file an appeal with the … The post Judge Rules (..)

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Report Calls Out Ed. Dept. For Continuing Garnishments During COVID-19 Moratorium

Account Recovery

The Department of Education continued to garnish wages of individuals with defaulted student loans long after a moratorium on collections was put in place in March 2020 at the onset of the COVID-19 pandemic, according to a report released by a student loan advocacy group. The post Report Calls Out Ed.