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Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Wage and Garnishment Equity Act of 2016

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Consumer Credit Protection Act to strengthen debt collection exemptions to protect debtors and their families from poverty or bankruptcy, and for other purposes.

Actions Overview (1)

07/07/2016Introduced in House

All Actions (2)

07/07/2016Referred to the House Committee on Financial Services.
Action By: House of Representatives
07/07/2016Introduced in House
Action By: House of Representatives

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services07/07/2016 Referred to

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Latest Summary (1)

There is one summary for H.R.5664. View summaries

Shown Here:
Introduced in House (07/07/2016)

Wage and Garnishment Equity Act of 2016 or the WAGE Act

This bill amends the Consumer Credit Protection Act to define "assignment" (of wages and earnings) to exclude payroll deductions or preauthorized payment plans and any assignment applicable only to earnings already earned.

The bill adjusts the maximum part of a person's aggregate disposable earnings for any workweek that is subject to garnishment or assignment. Such amount shall not exceed the lesser of: (1) 10% of earnings for an individual earning $1200 or less weekly (15% for an individual earning more than $1200), or (2) the amount by which the earnings exceed 80 (currently, 30) times the federal minimum hourly wage in effect.

No employer may take any adverse employment action against an employee because the employee's earnings have been subject to garnishment or assignment.

The Department of Labor may provide the same exemption from maximum allowable garnishment requirements for state-regulated assignments as it does for state-regulated garnishments.

The bill requires specified delays of garnishment pursuant to an order directed at an employer with fewer than 50 employees.

Of the aggregate amount of an individual's funds in deposit accounts, an amount equal to the federal poverty guideline applicable to a one-person household shall be exempt and immune from attachment or seizure for any judgment related to a debt.