Code of Federal Regulations · Section

§ 212.11 — Compliance And Record Retention

31 C.F.R. § 212.11

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(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.

31 C.F.R. § 212.10 31 C.F.R. § 212.12

Authorizing Statute

Exemption from legal process; recovery of payments
5 U.S.C. § 8470
Disbursing authority in the executive branch
31 U.S.C. § 3321
Exemption from legal process; recovery of payments
5 U.S.C. § 8346
Duties and powers of Board
45 U.S.C. § 362
Rules and regulations
38 U.S.C. § 501
Benefits
45 U.S.C. § 352
Nonassignability and exempt status of benefits
38 U.S.C. § 5301
General authority of the Secretary
31 U.S.C. § 321
Assignment of benefits
42 U.S.C. § 407
Functions of the Director
5 U.S.C. § 1103
Required direct deposit
31 U.S.C. § 3332
Consent by United States to income withholding, garnishment, and similar proceedings for enforcement of child support and alimony obligations
42 U.S.C. § 659
Assignability; exemption from levy
45 U.S.C. § 231m
Railroad Retirement Board
45 U.S.C. § 231f
Evidence, procedure, and certification for payments
42 U.S.C. § 405
Procedure for payment of benefits
42 U.S.C. § 1383