Unclaimed Accounts from failed banks:

The Federal Deposit Insurance Corporation (FDIC) provides deposit insurance to financial institutions and depositors of these institutions. If a financial institution is closed, by a regulatory agency, the FDIC is appointed as Receiver and is responsible for the payment of insured deposits and the liquidation of the remaining assets.

In many instances these funds remain unclaimed because:

* The insured deposit is never claimed from the assuming financial institution
* The dividend check on the excess deposit amount is not cashed
* The dividend check on the general creditor claim is not cashed
* The check to the shareholder is not cashed
* A valid address is not on file and dividend check has been returned to the FDIC

These unclaimed accounts will not appear in the States' unclaimed property databases but are included in our database.

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