Escheatment is the process by which a financial institution must report and remit any abandoned or unclaimed property for safekeeping, Bank of America says. Depending on the state, certain laws are in ...

Getty But before the bank would close the account, it may issue a letter to the customer informing them that their account is considered abandoned, and the account "may be turned over to the state ...

Bank of America clarifies reasons for labelling accounts as abandoned and offers guidance to customers on maintaining active status.

Southern Bank sent its Aurora customers a letter in the mail in January announcing the decision to cease operations, ...

The financial institution has announced that it will close some accounts if account holders ... to follow the instructions on your letter to contact the bank and prevent escheatment.” ...

But before the bank would close the account, it may issue a letter to the customer informing them that their account is considered abandoned, and the account "may be turned over to the state under ...

NEW YORK (PIX11) — Is Bank of America closing bank accounts? Yes ... Customers may receive a letter with instructions on what to do to prevent their funds from being transferred to the state.

Designed by architect James Whitford in 1920, the architecturally significant building has served borough bankers for decades ...

You will need to follow the instructions on your letter to ... the intention of closing customers’ accounts. “There has been no announcement, no warning, no changes at Bank of America.