In February, Treasury filed a lawsuit in the U.S. District Court for the Middle District of Pennsylvania against Delaware and MoneyGram, Inc. The lawsuit argued that when a money order issued by MoneyGram is not cashed after the requisite time period, any funds associated with the uncashed money order becomes unclaimed property and should be remitted to the state where the money order was purchased. Instead, MoneyGram has been submitting the unclaimed money to Delaware where it is incorporated.
Following a similar lawsuit filed by Wisconsin, Delaware countersued and sought to have the dispute moved to the Supreme Court. Treasury agreed that the Supreme Court should assume original jurisdiction and nearly two dozen other states have since joined to file a lawsuit identical to Pennsylvania's. The Supreme Court has consolidated all the cases and provided 30 days for the parties to file responses.
The Pennsylvania Treasury is an independent department of state government led by the state treasurer, who is elected every four years. The department's primary duty is to safeguard and manage the state's public funds. It invests state money to generate income on behalf of the citizens of Pennsylvania, reviews and processes payments for state government agencies, and serves as custodian of more than $100 billion in state funds. Key Treasury programs include Unclaimed Property, PA 529 College Savings Program and the Board of Finance and Revenue. To learn more visit patreasury.gov.
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SOURCE Pennsylvania Treasury