Arkansas to Receive Millions in Unclaimed Money Settlement with Delaware
Arkansas Attorney General Tim Griffin has announced that the state will receive more than 1,000 in a settlement regarding unclaimed assets against Delaware. This agreement marks the end of a nearly eight-year long lawsuit initiated by Arkansas, which led a coalition of 30 states. The state’s share includes the principal amount plus interest earned and expenses.
The dispute centered around uncashed money orders processed by MoneyGram, which were incorrectly submitted to Delaware. In 2023, the U.S. Supreme Court ruled in favor of Arkansas and its coalition partners, holding that unclaimed official checks issued by MoneyGram are governed by the Federal Disposition Act. This decision paved the way for the return of over 0 million to the states where these money orders were originally purchased.
Under the terms of the settlement, Delaware will transfer more than 2 million to the coalition states and million deposited by MoneyGram into a litigation escrow account will be distributed among all 50 states based on the place of purchase. The coalition states will receive nearly million plus earned interest from the escrow account. Arkansas and the other participating states will now assume responsibility for returning this property to their rightful owners.
Arkansas residents will be able to reclaim the funds deposited in the unclaimed property fund. With this settlement, the participating states are expected to reunite a significant amount of money with its citizens.
