Category: Checking & Savings
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Checks from the $8.7 million Sequoia Benefits data-breach settlement were issued Aug. 31 and become void if they are not cashed by Nov. 30
A settlement check that sits in a drawer past Nov. 30 stops being worth anything. Payments from the $8.7 million Sequoia Benefits data-breach settlement were issued on Aug. 31, 2026, and the settlement website says any uncashed check becomes void after Monday, Nov. 30, 2026. From today that leaves about seven weeks. The site says…
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Missouri returned nearly $61 million in unclaimed property in fiscal 2026 and still holds more than $1.5 billion
Missouri handed back nearly $61 million in unclaimed property during fiscal 2026, the most the state treasurer’s office has ever returned in one year. The office still holds more than $1.5 billion in more than 10 million accounts that nobody has claimed. State Treasurer Vivek Malek says about 1 in 10 Missourians has money waiting,…
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BMO checking customers will generally get mobile check deposits the next business day starting Nov. 7, while savings deposits take up to two business days
Photographing a check with a phone and depositing it through the BMO app is about to come with a firmer clock. Starting Nov. 7, 2026, mobile deposits into BMO checking accounts will generally be available the next business day, and deposits into savings accounts will generally be available by the second business day. The bank…
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A former Indianapolis letter carrier admitted stealing checks from the mail on his route in a $34 million bank fraud with about 6,500 victims
Destinee Ruffin, 29, a former letter carrier at the Bacon Station Post Office in Indianapolis, pleaded guilty on Oct. 9, 2026, to running a $34 million conspiracy to commit bank fraud by stealing checks from the mail. The U.S. Attorney’s Office for the Southern District of Indiana says in its plea announcement that about 6,500…
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Apple Cash users who have not verified their identity lose the ability to add money from a debit card starting Nov. 9, on a rolling basis
Apple Cash customers who have never verified their identity are about to lose a way to put money on the card. Green Dot Bank, which holds Apple Cash balances, says in its Apple Cash terms that starting Nov. 9, 2026, and on a rolling basis after that, an unverified account can no longer load its…
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Treasury can now check that a bank account belongs to the payee before sending federal payments and return payments that fail, under a Trump executive order
The Treasury Department can now confirm that a bank account belongs to the person being paid before a federal payment goes out, and it can send back payments that fail the test. Treasury said in an October 6 announcement that its capabilities to validate bank account ownership and the presence and format of Taxpayer Identification…
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The Federal Reserve proposed that bank-owned stablecoin issuers back their coins with assets such as short-term Treasury bills
Nothing about a bank account changes yet. The Federal Reserve Board proposed rules on Sept. 24 that would set reserve requirements for payment stablecoins issued by firms the Board supervises, including subsidiaries of state member banks, and the proposals are still open for public comment. Under the first proposal, those issuers would have to fully…
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Treasury’s Direct Express page still says nothing about the switch to Fifth Third
Treasury runs the Direct Express program, and its public Direct Express pages say nothing about the move to Fifth Third Bank. As of a read on October 6, 2026, the main Direct Express page and the news page, both marked last updated September 1, 2026, carry no notice, no timeline and no instructions for cardholders…
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Credit union insurance excludes annuities, safe deposit box contents and cryptocurrency
A credit union balance sitting in a share account is covered by federal insurance. A credit union member’s retirement annuity, the papers in a safe deposit box and a cryptocurrency wallet are not. The National Credit Union Administration (NCUA) says so plainly on its share insurance coverage page, in two sentences that many savers never…
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Treasury requires a notarized statement, or a certification on its own form, to keep a federal benefit on paper checks for mental-impairment or remote-location hardship
Paper checks are now the exception for federal benefits, and keeping one takes paperwork. The Social Security Administration’s electronic payment page states the rule bluntly: “Federal law mandates that all federal benefit payments – including Social Security benefits and Supplemental Security Income (SSI) – be made electronically.” Treasury, not SSA, decides who gets out of…