Regulations last checked for updates: May 18, 2024

Title 12 - Banks and Banking last revised: May 14, 2024
§ 313.98 - Ending garnishment.

(a) Once the FDIC has fully recovered the amounts owed by the debtor, including interest, penalties, and administrative costs consistent with the FCCS, the FDIC will send the debtor's employer notification to discontinue wage withholding.

(b) At least annually, the FDIC will review its debtors' accounts to ensure that garnishment has been terminated for accounts that have been paid in full.

source: 67 FR 48527, July 25, 2002, unless otherwise noted.
cite as: 12 CFR 313.98