Why some states are notifying their unclaimed cash assets
The U.S. Treasury Department on Monday announced it is sending states an additional $2 billion in unclaimed money.
The agency said in a press release that it would allocate $5 billion over the next three years to the unclaimed fund, which will target states with a high percentage of unclaimed assets.
Unclaimed funds are funds that are unaccounted for and have not been accounted for.
The Treasury said the un-claimed funds will be used to fund “federal and state programs, programs that provide support to needy families, and programs that assist those most in need.”