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Financial Services Law Insights and Observations

Rhode Island attorney general: CARES Act recovery rebates exempt from seizure

State Issues Covid-19 Rhode Island State Attorney General CARES Act

State Issues

On April 28, the attorney general of Rhode Island issued guidance to financial institutions, credit unions, creditors and debt collectors announcing that, in the attorney general’s view, all CARES Act recovery rebates are exempt from attachment and execution under Rhode Island law. The attorney general also warned that if a creditor attempts to attach a CARES Act recovery rebate, the attorney general’s office may bring a civil action or seek injunctive relief.