News & Analysis as of

Abandoned Property Financial Institutions

McGlinchey Stafford

Inside Georgia’s Abandoned Motor Vehicle Act

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Many states have laws that provide “super liens” to facilities that tow, repair, and store vehicles. Georgia’s current abandoned motor vehicle statute is an example of how these statutes can put the secured party financing...more

Burr & Forman

Finders Keepers? What Should Happen to Abandoned Bank Accounts

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“Rule Number 1: Never lose money.  Rule Number 2: Never forget Rule Number 1.” – Warren Buffet. While we all like to think that we have a handle on our finances, sometimes that is not the case. This is evidenced by...more

Alston & Bird

California Updates Unclaimed Property Law to Recognize Electronic Recurring Bank Account Activity

Alston & Bird on

On September 22, California Governor Jerry Brown signed AB 2258 into law, which revises California’s Unclaimed Property Law (UPL) to expressly recognize that certain electronic recurring transactions constitute...more

Locke Lord LLP

FDIC Clarifies Supervisory Expectations for Abandoned Foreclosures

Locke Lord LLP on

On March 2, 2016, the FDIC issued clarification of their supervisory expectations of financial institutions’ risk management policies concerning the discontinuation of foreclosure proceedings, commonly referred to as...more

Troutman Pepper

Looking Back: Delaware's Comprehensive Unclaimed Property Program Reform

Troutman Pepper on

The recent reforms have not impacted the power and authority of the Office of the State Bank Commissioner to examine Delaware financial institutions for compliance with the escheat laws, but the shortened look-back period...more

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