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New Legal Opinions - Garnishments and Check Deposit

Our HCUA Compliance Department, on behalf of our member credit unions, recently requested legal opinions regarding the following topics:
These legal opinions are informal email responses from an outside law firm as opposed to a formal write-up. 

Garnishments – IRAs and HSAs (Email)

This addresses whether or not Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs) are subject to, or exempt from, garnishment in both Kansas and Missouri.    

Check Deposit – Payee Blank (Email)

This  provides guidance regarding situations where a member is depositing a check and the payee line is blank, e.g., whether the credit union should have the member write in their name on the payee line before depositing, deposit the item with the payee line blank or not accept the item at all.  Information is not state-specific. 

To request a copy of one or more legal opinions, contact HCUA Compliance at compliance@heartlandcua.org, 800-446-3620 or 314‑542‑1382.

 

Vocab Compliance: