Tag Archives: Garnishment

CFPB Fines BofA $10M for Improper Garnishments

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. A copy of the settlement order can be accessed …

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NCLC Report Rates States on Exemption Laws

There isn’t a state in the country that is adequately protecting families from debt collectors, debt buyers, and creditors with exemption laws, allowing individuals to keep some of their assets or paychecks when a garnishment order or judgment is awarded, according to a report issued this week by the National …

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Maine Enacts Law Raising Garnishment Protections

By virtue of not vetoing it, a new law has been enacted in Maine that expands the protections consumers will have with respect to garnishments, including for the first time, funds that consumers have in their bank accounts. This is the first time that Maine has updated its garnishment protections …

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