Dates of Event & Pricing

$295 for Webinar and Playback*

*Playback has no expiration.

  • Wednesday, May 11, 2022

  • 2:00 – 3:00 pm (Eastern Time)

  • 1:00 – 2:00 pm (Central Time)

  • 12:00 – 1:00 pm (Mountain Time)

  • 11:00 – 12:00 pm (Pacific Time)

Curriculum

Financial institutions are required to have processes in place to ensure federal benefit funds deposited during the lookback period are protected. The Federal Deposit Insurance Corporation includes garnishments containing federal benefit payments in their compliance examination testing. Ensuring staff understand how to avoid garnishing protected funds, notice requirements and the other garnishment requirements regarding federal benefit payments is an important part of your compliance program. 

During this webinar, we will discuss the following: 

  • Account review and look-back period 
  • Process for identifying and calculating protected funds 
  • Garnishment fee restrictions 
  • Notice to account owner content requirements 
  • Safe harbors for financial institutions

Instructor

Manager - Wipfli CPAs and Consultants

Nick Bonnema

Nick Bonnema is a member of the financial institutions practice’s regulatory compliance team at Wipfli LLP. He has more than 10 years of financial institution experience, specializing in regulatory compliance; Bank Secrecy Act (BSA)/Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC) consulting, and performing validations of automated surveillance monitoring systems; and the mitigation of regulatory risk. Nick works with financial institutions to address the overall administration of compliance directives, review and make compliance policy and procedure recommendations, and help senior management implement recommendations to meet the changing expectations of the financial services industry and implement post examination remediation and enforcement action resolution. His communication and research skills allow him to understand a client’s specific needs and then use that knowledge to develop and deliver customized, sensible solutions.

Credits

1.0 CPE Credits & 1.2 AAP Credits