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Unclaimed Property in the Banking Industry

This session will cover unclaimed property requirements for banks and credit unions. With over $1 billion in dormant or lost assets—such as savings, CDs, checking accounts, cashier's checks, and safe deposit box contents—unclaimed property remains a significant issue. Most of these assets are reportable to the owner's last known address. The rise of online banking has also led to more cross-state owner relationships. We will review:

  • A sample Unclaimed Property Policy and Procedures for the Banking Industry
  • Dormancy and reporting maps
  • Best practices and common mistakes
  • An overview of audits in the banking industry


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