31 C.F.R. § 212.11
Compliance and record retention
(a) Enforcement. Federal banking agencies will enforce compliance with this part.
(b) Record retention. A financial institution shall maintain records of account activity and actions taken in response to a garnishment order, sufficient to demonstrate compliance with this part, for a period of not less than two years from the date on which the financial institution receives the garnishment order.
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 2020–2023 · leading case: Roger Hawes v. William Stephens, 964 F.3d 412 (5th Cir. 2020).
Roger Hawes v. William Stephens, 964 F.3d 412 (5th Cir. 2020). “” 31 C.F.R. § 212.11 (a). 4 A “financial institution” is defined as “a bank, savings association, credit union, or other entity chartered under Federal or State law to engage in the business of banking.”
Huffman v. JP Morgan Chase Bank, NA (D. Ariz. 2023). “And here, 31 C.F.R. 212.11(a) 9 expressly provides that “[f]ederal banking agencies will enforce compliance with this part.”
— 31 C.F.R. § 212.11(a) — 1 case
Huffman v. JP Morgan Chase Bank, NA (D. Ariz. 2023). “And here, 31 C.F.R. 212.11(a) 9 expressly provides that “[f]ederal banking agencies will enforce compliance with this part.”
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