Banks and Financial Institutions - As enacted, extends, from one to two business days following receipt of a garnishment, the period of time within which a garnishee must determine whether the garnishee possesses or controls money or property of the judgment debtor, place a hold on any available funds, and furnish to the judgment debtor a copy of the garnishment summons and the notice to judgment debtor; makes other changes related to banking. - Amends TCA Title 26; Title 45 and Title 47.

HB 745 extends the deadline for banks and financial institutions (garnishees) from one to two business days after receiving a garnishment order to: (1) check if they hold funds or property belonging to a judgment debtor, (2) place a hold on available funds, and (3) send the garnishment notice to the debtor. The bill directly affects debtors whose assets are being garnished and the financial institutions handling these requests. It also adds provisions requiring banks to include reasonable attorney fees in claims when warranty breaches aren’t paid within 30 days after written notice. These changes amend Tennessee banking laws in Titles 26, 45, and 47. The bill became law on April 30, 2025 (Public Chapter 174).