To require financial institutions to deposit the principal amount of any unclaimed deposit held by such institutions into interest or dividend-bearing accounts, and for other purposes.
USA115th CongressHR-5692| House
| Updated: 5/7/2018
Jenniffer González-Colón
Republican Representative
Puerto Rico
Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Promoting Access to Justice through Unclaimed Deposits Act of 2018 This bill requires financial institutions to deposit unclaimed funds into an interest- or dividend-bearing account. The interest or dividend generated from such a deposit must be transferred to an appropriate state account that also holds the interest generated from lawyer trust accounts.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Bank accounts, deposits, capitalInterest, dividends, interest ratesLawyers and legal servicesLegal fees and court costs
To require financial institutions to deposit the principal amount of any unclaimed deposit held by such institutions into interest or dividend-bearing accounts, and for other purposes.
USA115th CongressHR-5692| House
| Updated: 5/7/2018
Promoting Access to Justice through Unclaimed Deposits Act of 2018 This bill requires financial institutions to deposit unclaimed funds into an interest- or dividend-bearing account. The interest or dividend generated from such a deposit must be transferred to an appropriate state account that also holds the interest generated from lawyer trust accounts.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Jenniffer González-Colón
Republican Representative
Puerto Rico
Financial Services Committee
Finance and Financial Sector
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Bank accounts, deposits, capitalInterest, dividends, interest ratesLawyers and legal servicesLegal fees and court costs