Oklahoma Bankers Association
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Reminder: Garnishment changes coming May 1

With less than four weeks before the May 1, 2011, effective date for changes in the process for garnishing accounts, (note: the changes are contained in 31 CFR Part 212 – Garnishment of Accounts Containing Federal Benefit Payments) financial institutions, the Oklahoma Administrative Office of Courts and the Oklahoma Child Support Services are all scrambling to prepare for the major changes affecting Oklahoma law.

Terri Calloway, who supervises promulgation of the garnishment forms at the Administrative Office of the Courts, has been in communication with Pauli Loeffler regarding changes in the garnishment forms. She was given information and offered her assistance in drafting the new forms for the garnishee's packet. 

If the forms are NOT available by the effective date, the OBA will provide member banks with suggestions for modification of the current Claim for Exemption Form setting forth ONLY the Federal benefits (without request for hearing).

Loeffler was contacted by Andrew Szymak, who heads up the Financial Institution Deposit Match program for Child Support Services about placement of the Notice of Right to Garnish Federal Benefits in the FIDM Child Support Levy. We anticipate providing our member banks with a preview of the new FIDM Levy before the May 1 deadline.

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