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Garnishment Of Deposit Accounts: Operational Headaches

LexisNexis (July 26, 2018, 10:29 AM EDT) -- Next to employers, depository institutions probably garner more incoming garnishment notices than any other group. Two of the most recurrent issues deal with joint accounts and name discrepancies. Let’s take a brief ride through this landscape.

Joint accounts. What happens when the deposit account is titled in the joint names of husband and wife, but the garnishing creditor is going after only one of the joint depositors? This is a constant headache for depository institutions, and the rules vary somewhat from state to state. Interestingly enough,...
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