This Week's Podcast: Protection Of Economic Impact Payments (EIPs) From Garnishment By Creditors: What Are The Issues Now Facing Financial Institutions? (Podcast)
Ballard Spahr LLP—an Am Law 100 law firm with more than 750 lawyers in 18 U.S. offices—serves clients across industries in litigation, transactions, and regulatory compliance. A strategic legal partner to clients, Ballard goes beyond to deliver actionable, forward-thinking counsel and advocacy powered by deep industry experience and an understanding of each client’s specific business goals. Our culture is defined by an entrepreneurial spirit, collaborative environment, and top-down focus on service, efficiency, and results.
With the U.S. Treasury Department now completing the process of issuing the third round of EIPs, financial institutions must navigate a maze of federal and state garnishment protections.
With the U.S. Treasury Department now completing the process of
issuing the third round of EIPs, financial institutions must
navigate a maze of federal and state garnishment protections. After
looking at the protection provided by the three federal pandemic
relief laws, we discuss the actions states have taken to protect
EIPs and offer our thoughts on the approach banks should take when
responding to garnishment orders and analyzing the impact of state
laws, executive orders, guidance, and directives.
Ballard Spahr Senior Counsel Alan Kaplinsky hosts the
conversation joined by Lori Sommerfield, Of Counsel in the
firm's Consumer Financial Services Group.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
