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Federal Government ACH Payments: Reclamations & Garnishments (ACH Professional Series)

Date: August 5, 2014

Time: 3:00pm - 4:30pm

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With few exceptions, federal government ACH payments are subject to the same rules as private industry ACH payments. Mishandling these payments can impact your institution and lead to financial losses. This session will explain your responsibilities regarding processing federal government reclamations, including steps to limit liability. It will also review the final rule related to the Garnishment of Accounts Containing Federal Benefit Payments, detail which payments are exempt from garnishments, and outline associated financial institution responsibilities.

This course is eligible for 1.8 AAP credits.
Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Interpret Chapter 5 – Reclamations of the Green Book to assess financial institution liability
  • Steps to limit liability and avoid potential reclamation losses
  • Calculate liability related to federal government reclamations
  • Federal benefit payments exempt from garnishment
  • Procedures that must be followed when receiving a garnishment order
  • TAKE-AWAY TOOLKIT
    • Resource guide
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

WHO SHOULD ATTEND?

This informative session is designed for ACH professionals, audit/compliance personnel, and ACH operations staff.

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