,,ii #aadth ,,congress #b;d ,session ,s4 #cadc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #g1 #bjaf,mr4 ,merkley introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend the ,consumer ,credit ,protection ,act to strengthen debt collection exemptions to protect debtors and their families from poverty or bankruptcy1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,wage and ,garnishment ,equity ,act of #bjaf or the ,,wage ,act4 #b4 ,assignment of earnings defined ,section #cjb of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afgb7 is amended by adding at the end the following3 7d7 ,assignment ,the term assignment-- 7#a7 means a contractual agreement that constitutes or contains an assignment 7as described in section #ddd4b7;a77#c7 of title #af1 ,code of ,federal ,regulations71 including an assignment that is revocable at the will of the individual2 and 7#b7 does not include an assignment described in paragraph 7ii7 or 7iii7 of section #ddd4b7;a77#c7 of title #af1 ,code of ,federal ,regulations4 4 #c4 ,adjustment to restrictions on garnishment ,section #cjc7;a7 of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afgc7 is amended-- 7#a7 by striking paragraph 7#a72 7#b7 in the matter preceding paragraph 7#b71 by striking garnishment may not exceed and inserting garnishment or assignment may not exceed the lesser of-- 7#a7 for an individual earning-- 7,a7 less than or equal to #a1bjj 7as adjusted for inflation every #c years1 by notice1 to reflect the change in the ,consumer ,price ,index for ,all ,urban ,consumers published by the ,bureau of ,labor ,statistics7 a workweek1 #aj percent of the individual's disposable earnings for that workweek2 or 7,b7 more than #a1bjj 7as adjusted for inflation every #c years1 by notice1 to reflect the change in the ,consumer ,price ,index for ,all ,urban ,consumers published by the ,bureau of ,labor ,statistics7 a workweek1 #ae percent of the individual's disposable earnings for that workweek2 or 2 7#c7 in paragraph 7#b7-- 7,a7 by striking thirty and inserting #hj2 and 7,b7 by striking the comma at the end and inserting a period2 and 7#d7 in the matter following paragraph 7#b71 by striking whichever is less44 #d4 ,restriction on adverse employment action because of garnishment 7a7 ,in general ,section #cjd of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afgd7 is amended-- 7#a7 by amending the section heading to read as follows3 ,restriction on adverse employment action2 and 7#b7 by striking subsection 7a7 and inserting the following3 7a7 ,in general ,no employer may take any adverse employment action against an employee because the employee's earnings have been subjected to garnishment or assignment4 4 7b7 ,table of contents amendment ,the table of contents in title ,,iii of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afga et seq47 is amended by striking the item relating to section #cjd and inserting the following3 #cjd4 ,restriction on adverse employment action4 4 #e4 ,state law with respect to assignments 7a7 ,exemption for ,state-,regulated assignments 7#a7 ,in general ,section #cje of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afge7 is amended-- 7,a7 in the section heading1 by inserting or assignments after garnishments2 7,b7 by inserting or assignments after garnishments2 and 7,c7 by inserting or assignment after garnishment4 7#b7 ,table of contents amendment ,the table of contents in title ,,iii of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afga et seq47 is amended by amending the item relating to section #cje to read as follows3 #cje4 ,exemption for ,state-regulated garnishments or assignments4 4 7b7 ,effect on ,state laws ,section #cjg of such ,act 7#ae ,u4,s4,c4 #afgf7 is amended-- 7#a7 by striking ,state and inserting ,state--2 7#b7 in paragraph 7#a71 by striking garnishments each place such term appears and inserting garnishments or assignments2 and 7#c7 in paragraph 7#b71 by striking garnishment and inserting garnishment or assignment4 #f4 ,employer liability for failure to garnish 7a7 ,in general ,title ,,iii of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afga et seq47 is amended by adding at the end the following3 #cjh4 ,delay of garnishment2 employer liability 7a7 ,delay of garnishment ,a garnishment order directed at an employer with fewer than #ej employees may not require such employer to garnish the earnings of the individual who is the subject of the order earlier than the later of the following3 7#a7 #ae business days after such employer receives the order4 7#b7 #e business days after the date on which the individual is regularly scheduled to receive earnings4 7#c7 ,as would otherwise be required by ,state law or regulation4 7b7 ,employer liability ,no employer with fewer than #ej employees shall be liable for failing to respond to a garnishment order unless such employer-- 7#a7 has been given written notice that specifies the nature of the employer's failure to comply with the requirements of this title2 and 7#b7 does not correct the failure described in paragraph 7#a7 within #ae days of receipt of such notice4 4 7b7 ,table of contents amendment ,the table of contents in title ,,iii of the ,consumer ,credit ,protection ,act 7#ae ,u4,s4,c4 #afga et seq47 is amended by adding at the end the following3 #cjh4 ,delay of garnishment2 employer liability4 4 #g4 ,exemption for amounts in deposit accounts 7a7 ,in general ,of the aggregate amount of funds of an individual in deposit accounts1 #aj1jjj 7as adjusted for inflation every #c years1 by notice1 to reflect the change in the ,consumer ,price ,index for ,all ,urban ,consumers published by the ,bureau of ,labor ,statistics7 shall be exempt and immune from attachment or seizure with respect to any judgment related to a debt4 7b7 ,inclusion of accounts ,in this subsection1 the term deposit accounts shall include any account1 as such term is defined in section #ijc of the ,electronic ,fund ,transfer ,act 7#ae ,u4,s4,c4 #afic;a74