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#1596387 - 08/25/11 02:42 PM Escheatment Rules after a bank failure
isaidno Offline
100 Club
Joined: Feb 2007
Posts: 129
As the assuming bank after a failure, what is the escheatment process for accounts held at the failing bank? Is there something documented that I can reference?

Any assistance would be appreciated. Thank you.

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#1598391 - 08/30/11 08:47 PM Re: Escheatment Rules after a bank failure isaidno
tpowers4 Offline
100 Club
Joined: Sep 2006
Posts: 157
St. Louis
The rules are going to be be set by the regional FDIC office. In general, property not claimed after within 18 months of the acquisition will be escheatable to the FDIC - not the state. The FDIC will handle escheating to the state at a later date. Contact the FDIC region that handled the case and find out what their specific guidance is.
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