Garnishment of Accounts Containing Federal Benefit Payments

Docket ID: FISCAL-FMS-2010-0002
Agency: Fiscal Service (FISCAL)
Parent Agency: Department of the Treasury (TREAS)
Treasury, SSA, VA, RRB and OPM (Agencies) are publishing for comment a proposed rule to implement statutory restrictions on the garnishment of Federal benefit payments. The Agencies are taking this action in response to recent developments in technology and debt collection practices that have led to an increase in the freezing of accounts containing Federal benefit payments. The proposed rule would establish procedures that financial institutions must follow when a garnishment order is received for an account into which Federal benefit payments have been directly deposited. The proposed rule would require financial institutions that receive a garnishment order for an account to determine whether any Federal benefit payments were deposited to the account within 60 calendar days prior to receipt of the order and, if so, would require the financial institution to ensure that the account holder has access to an amount equal to the sum of such payments in the account or to the current balance of the account, whichever is lower.
RIN: Not Assigned
Docket Details open glossary dialog  
Related RINs: None
Related Dockets: None
Keyword(s): Garnishment, Benefit payments, Exempt payments, Financial institutions, Preemption, Recordkeeping
Type: Rulemaking

Primary Documents

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Comment Period Closed
Jun 18, 2010 11:59 PM ET
Proposed Rule
Posted: 04/19/2010
ID: FISCAL-FMS-2010-0002-0001

Supporting Documents

No documents available.


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Comments Received*
*This count refers to the total comment/submissions received on this docket, as of 11:59 PM yesterday. Note: Agencies review all submissions, however some agencies may choose to redact, or withhold, certain submissions (or portions thereof) such as those containing private or proprietary information, inappropriate language, or duplicate/near duplicate examples of a mass-mail campaign. This can result in discrepancies between this count and those displayed when conducting searches on the Public Submission document type. For specific information about an agency’s public submission policy, refer to its website or the Federal Register document.