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Overcoming Escheatment Challenges

Escheatment/Unclaimed Property Curriculum

Banks and credit unions can reduce their unclaimed property liability and reach compliance!

Did you know that the banking industry has the number one reported unclaimed property asset? Not only does this deplete assets under management, ever-changing unclaimed property laws also leave banks and credit unions at risk of non-compliance, which can result in significant fines and penalties. Audits are on the increase so it’s important to learn as much as you can and take action to mitigate your risk. Enroll for this session to learn how to retain assets, improve customer/member satisfaction and reduce risk.

Session topics will include:

  • Background on the various U.S. state unclaimed property laws
  • Why unclaimed property audits have increased in number and scope
  • Best practices for compliance
  • Creation of an 2017 unclaimed property calendar
  • How to locate owners and keep their accounts active
  • An update on the Uniform Law Commission’s rewrite of the uniformed unclaimed property act

Speaker--Michael J. Ryan, Georgeson LLC.



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