ACH Specialist Series:
Federal Government ACH Payments: Reclamations & Garnishments
Wednesday, November 15, 2017
10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
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
- Interpret Chapter 5 – Reclamations of the Green Book to assess a financial institution's liability
- Steps to limit liability and avoid potential losses associated with reclamations
- Calculating liability related to federal government reclamations
- Federal benefit payments exempted from garnishment
- Procedures 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 would best suit ACH professionals, audit/compliance staff, and ACH operations personnel.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.