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CUNA, NAFCU See Navigating Garnishment Guidelines As Tricky

While CUNA and NAFCU supported regulatory guidance in the area of funds exempt from garnishment orders generally, they--and the handful of credit unions that commented to NCUA--said that the burden should not be placed on credit unions.

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WASHINGTON — While CUNA and NAFCU supported regulatory guidance in the area of funds exempt from garnishment orders generally, they–and the handful of credit unions that commented to NCUA–said that the burden should not be placed on credit unions.

On the specifics of the proposal CUNA was supportive of items like unfreezing accounts as quickly as possible but felt that differentiating between protected funds, like Social Security benefits, and others was “infeasible.”

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