As you may have heard today, there are billions of dollars worth of treasury department unclaimed bonds. Most of these date from WWII.
The federal treasury has been holding onto these bonds and now actually face legal action from states. Like you, my question is does any of that money potentially belong to my family?
The backstory here is that during the War, the federal government unleashed a massive campaign to get people to buy bonds. In total some $16.7 billion dollars was raised.
This money came in small amounts from every-day people, but it was still their money. Now several state governments allege the federal never paid money back.
They did not try to track down bond holders, and others forgot to file claim or are dead now, so the federal government could not even repay them.
State governments claim there is a built-in system within state law that provides a way to get federal money, belonging to members of a state, and track down who is should go to.
The federal government say nay and that the unclaimed bonds should remain in federal control. I think everyone else says “give us the money”, so will be siding with the states in this matter.
If there’s a chance that anyone could be getting a chance to get a bit of money in their pockets, let it be. This will be an interesting story to watch develop.