August 30, 2024 - Attorney General Miyares Announces $190M Multistate Settlement to End Interstate Unclaimed Property Dispute

Attorney General Miyares Announces $190M Multistate Settlement to End Interstate Unclaimed Property Dispute

Virginia Expected To Receive More Than $5.3 Million

RICHMOND, Va. - Attorney General Jason Miyares has announced a bipartisan multistate settlement to end the outstanding damages phase of an unclaimed property dispute before the United States Supreme Court. Virginia expects to receive approximately $5,326,921.07.

In 2023, the U.S. Supreme Court unanimously sided with Virginia and its coalition partners in holding that unclaimed official checks issued by MoneyGram Payment Systems, Inc. ("MoneyGram") are governed by the Federal Disposition Act. This settlement brings to an end nearly eight years of litigation and returns to the people of Virginia money from the unclaimed checks.

"Today's settlement is a big win for Virginia consumers, resolving nearly eight years of litigation. We stood firm in our fight, and the Supreme Court agreed with us. I'm proud of this coalition's efforts to bring this issue to a close, and my office's work to secure these funds for Virginians," said Attorney General Miyares.

Under the terms of the settlement, Delaware will transfer more than $102 million of the property that MoneyGram reported to Delaware from 2011 to 2017 to the coalition states, based on each monetary instrument's place of purchase. Virginia will assume custody of its portion of the settlement as well as responsibility to pay any claims for the property.

The settlement agreement ends the outstanding parts of the ongoing litigation before the U.S. Supreme Court.

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