Trump gives BANKS green light to garnish your $1200 stimulus checks to pay debts!

Sailor said:
Here.....let me type this slowwwwwwwwwwwwlllllllllllllllllllllllllllllllllllllllllyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy Democrat. What legal authority do private debt collectors have to garnish anything?
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I have no further interest in conversing with you since you chose to be condescending. I have always treated you with respect. It’s sad you can’t return the favor. Be well.
 
TTQ64 said:
Corporations
Banks
Religion
Ivanka and Jarred
Limbaugh
Mix in a few more extreme hooded nut bags

here's dumps task force.

Of course the banks are going to take the money especially from the poor and minorities.

If you've ever voted republican these are the things you support.

The banks get a piece of unemployment as well.
The will also get a piece of bankrupties as well.

Should have let the banks fail.
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Yes, just as they should have in 2008.
 
Let me help everyone here, because I know more than everyone about everything and I'm just a nice guy.


OK, so since the funds will simply be transferred into an open bank checking or savings account.

The government appears not to have addressed exemptions and added this item to the list.
So if an account is overdrawn say $300, and a 2500 check is deposited, the net balance will be $2200 without anyone having taken an affirmative action.
The computer will simply note that balance.

A second issue was the question of a separate loan acct at the same bank. Normally a bank could seize those funds without a court order
if the loan were defaulted, probably within the terms of the loan agreement. This was the question it appears that the article is most closely addressing
despite all the "debt collector" verbiage.

A third situation would arise if there were third party legal process
such as a bank levy. For example if you humiliated me online and I sued you for defamation I could get a money judgment for a million dollars
and use the writ of execution and bank levy by having the Sheriff deliver the levy to your bank. The bank would be under legal obligation to apply the funds to satisfy the
bank levy up to my million dollars, which would have the effect of taking your government relief check.

I know banks and consumer credit bar does not want this PR result, but in fact the default situation is that this could occur.
I believe all the industry is already in abeyance on issuing new garns and writs, but garnishments in process are still there.

They should simply order the funds exempt from legal process and somehow tag the credit so a bank knows not to apply it to any in house debt
the customer is carrying on the books when they sweep the accounts daily.
 
Sailor said:
Lets see if anyone on the left can find the bullshit. It really is not hard. I will gaurentee not one of you does though it is in plain sight. Headlines and soundbytes. All Democrats go by.
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In other words dump speak.

You have to know racist right wing speak and use the decoder ring to understand a drunken sailor............just saying.
 
TTQ64 said:
In other words dump speak.

You have to know racist right wing speak and use the decoder ring to understand a drunken sailor............just saying.
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Oh look. Another uneducated Democrat feels the need to put in their two cents. Yawn.
 
Nobody is going to have any money garnished. Geez........ Why are leftists so prone to jump on anything that could possibly be negative? Oh wait,... I know....It all depends if there is an R or a D in office at the time. Truly sickening!
 
Centerleftfl said:
Banks get first dibs? They even put out a webinar to tell them how to do it! How about deadbeat parents with support administered through states? Or is it only FOR PROFIT entities? Priorities man, priorities.

Beyond predatory’: Trump Treasury Department gives banks green light to seize $1,200 stimulus checks to pay off debts

Published
2 hours ago on
April 14, 2020
By Jake Johnson,

​
[FONT=&]“The Treasury Department is pointing out opportunities for banks and debt collectors to steal Americans’ relief checks out from under them.”

[FONT=&]President Donald Trump’s Treasury Department has given U.S. banks a green light to seize a portion or all of the one-time $1,200 coronavirus relief payments meant to help Americans cope with financial hardship and instead use the money to pay off individuals’ outstanding debts—a move consumer advocates decried as cruel and unacceptable.[/FONT]

​
[FONT=&]“These payments are supposed to help individuals and families put food on the table during this crisis, not enrich debt collectors.”
—Maura Healey, Massachusetts Attorney General[/FONT]

[FONT=&]“The Treasury Department effectively blessed this activity on a webinar with banking officials last Friday,” The American Prospect‘s David Dayen reported Tuesday.[/FONT]

​
In an audio recording from the webinar obtained exclusively by the Prospect, Ronda Kent, chief disbursing officer at the Treasury Department’s Bureau of the Fiscal Service, told bankers that “there’s nothing in the law that precludes” financial institutions from seizing a person’s payment and using it to pay off the individual’s debts.

[FONT=&]“After a third of U.S. renters couldn’t make rent this month, the Treasury Department is pointing out opportunities for banks and debt collectors to steal Americans’ relief checks out from under them,” Jeremy Funk, spokesperson for consumer advocacy group Allied Progress, said in a statement responding to Kent’s comments.
[/FONT]
[FONT=&]“It’s the middle of a pandemic,” said Funk. “This money should be going toward food, rent, and medicine—it’s not the time to hand out favors to debt collection industry donors or pad some big bank’s bottom line,” said Funk. “Secretary Mnuchin needs to ensure that these $1,200 checks go straight into Americans pockets where they belong.”

[/FONT][/FONT]https://www.rawstory.com/2020/04/be...-seize-1200-stimulus-checks-to-pay-off-debts/
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Congress -not Trump- wrote the law you partisan hack
 
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