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.

SB 765 extends the deadline for banks and financial institutions (garnishees) from one to two business days to act after receiving a court-ordered garnishment. Specifically, it requires these institutions to determine within five business days if they hold funds belonging to a judgment debtor, place holds on available funds, and send written notice to the debtor. The bill also adds provisions allowing reasonable attorney fees if warranty claims are not paid within 30 days, affecting banking transactions under Titles 47 of Tennessee law. This law, effective April 11, 2025, directly impacts banks handling garnishments and debtors receiving notices.