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The division “attempts to contact the owner directly” for unclaimed property valued at $250 or more, but does not have an automatic returns process in place, and “Pennsylvania’s law would ...
Pennsylvania holds more than $4.5 billion in unclaimed property — money from inactive bank accounts, uncashed checks, and unused gift cards that by law must be turned over to the state.
About 1 in 7 individuals in Pennsylvania may have unclaimed property, with the state Treasury currently holding over $4.5 billion in unclaimed funds. Bucks County alone accounts for more than $133 ...
Treasury's Unclaimed Property Bureau works to reunite more than $2 billion in lost, forgotten and abandoned property with its rightful owners. Since 2009, Treasury has collected $1.134 billion in abandoned property and returned $518 million back to the rightful owners, netting $616 million for the state General Fund budget. [citation needed]
Delaware v. Pennsylvania, 598 U.S. 115 (2023), was a United States Supreme Court case related to unclaimed money and the escheatment of checks. [1] This case was Justice Ketanji Brown Jackson 's first majority opinion on the Supreme Court. [2] [3] It was also the first case the Supreme Court has taken on unclaimed property in over 30 years.
University of Pennsylvania ( BA) New College, Oxford. Joseph M. Torsella (born October 8, 1963) is an American politician and former diplomat, who served as the Pennsylvania Treasurer from 2017 to 2021. He was the U.S. Representative to the United Nations for Management and Reform (with the rank of ambassador) from 2011 to 2014. [1]
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The state treasurer is also responsible for issueing, registering, and servicing the Commonwealth's public debt along with administering escheats and unclaimed property that accrue to the Commonwealth. [10] [11] These are core functions shared with other state treasurers. [12] Other programs have been assigned to the state treasurer by law.