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Subcommittee approves bill to automatically protect $500 in bank accounts from garnishment
Summary
The Criminal Subcommittee reported House Bill 1864 with a substitute by voice and recorded vote after proponents and banking stakeholders agreed the measure would automate a $500 exemption in accounts to prevent hardship from garnishment.
Delegate Hernandez introduced House Bill 1864 as a consumer-protection measure to make certain bank-account exemptions self-executing. Under the substitute presented to the committee, the bill would automatically protect $500 in a depositor—s bank or credit-union account from garnishment without the account holder having to go to court or hire an attorney. The substitute also contains an inflation adjustment modeled on the existing…
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