The Wisconsin Supreme Court issued its final order requiring that at least one - half
of unclaimed funds in class action settlements and judgments be directed to the Wisconsin Trust Account Foundation to support civil legal services to the poor.
New York State Comptroller Thomas P. DiNapoli presents Bronx Borough President Ruben Diaz Jr. with a ceremonial check for $ 245 million, representing the total
amount of unclaimed funds for Bronxites currently held by the State of New York, on Friday, March 27, 2015.
Also at 9 a.m., state Comptroller Tom DiNapoli and Sen. David Carlucci will encourage New York state residents to claim their lost money, announcing the
results of an unclaimed funds outreach conducted by the senator's office, Finkelstein Memorial Library, 24 W. Rte.
Jennifer Freeman, communications director for Comptroller Thomas DiNapoli, said people who want their stock reinstated should call the Office
of Unclaimed Funds at (800) 221-9311.
Under the law, corporations, banks, insurance companies, brokerages and other businesses in New York are required to transfer abandoned money or securities to the state comptroller's Office
of Unclaimed Funds under a process called escheatment (a word with origins in English feudal law).
The National Administration of Unclaimed Property Administrators (NAUPA) says it has stopped recording the total
amount of unclaimed funds «as it is many, many billions of dollars.»
A report in July of this year listed the total
of unclaimed funds to be around $ 14 billion.
The rule change will direct at least 50 %
of unclaimed funds in state class action settlements and awards to the Wisconsin Trust Account Foundation to support civil legal services.
Petition 15 - 6 was filed by the Access to Justice Commission on October 9th and requests a rule change that would require that at least 50 %
of unclaimed funds in class action settlements be directed towards the state's civil legal aid providers.