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#2138247 - 07/14/17 09:14 PM Abandoned Property
Pattik14 Offline
New Poster
Joined: Aug 2016
Posts: 1
We have DDA accounts that are tied to consumer loans, the accounts are dormant but the loans are current ( paid via ACH credits from other banks) Can we exempt reporting the DDA's based on the fact the loans are current?

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#2189257 - 08/15/18 06:54 PM Re: Abandoned Property Pattik14
Starter Offline
Platinum Poster
Joined: Aug 2004
Posts: 513
When determining whether something is abandoned property or not, it comes down to "contact with the customer", so you would look at them on a portfolio level - if you have had contact with the customer, then none of their accounts are subject to escheatment.

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#2189272 - 08/15/18 07:22 PM Re: Abandoned Property Pattik14
rlcarey Online
10K Club
Joined: Jul 2001
Posts: 83,613
Galveston, TX
The opinions expressed here should not be construed to be those of my employer:

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