The US Supreme Court ruled February 28 that the Disposition of Abandoned Money Orders and Traveler’s Checks Act (Federal Disposition Act or FDA) governs teller’s checks and agent checks, and that unclaimed proceeds of such should escheat to the state of purchase. [Arkansas, et al. v. Delaware, No. 22O146 ORG, Delaware v. Pennsylvania, U.S., No. 22O145, 2/28/23]
Source PwC
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