State representatives from Arkansas declared on Wednesday that the state and the state of Delaware had achieved a settlement in a property-related lawsuit.
More than $250 million in unclaimed funds from uncashed money orders issued through MoneyGram and incorrectly transferred to Delaware were the subject of a lawsuit brought by Arkansas in 2016. In this case, a coalition of thirty states was led by Arkansas.
The United States Supreme Court decided unanimously in 2023 that the money ought to be given back to the states where unclaimed money orders or comparable goods were bought.
The state’s portion of the settlement, according to Arkansas Attorney General Tim Griffin, is $761,907.91 plus interest and costs. He expressed excitement about “reuniting the people of Arkansas with their money.”
“This settlement concludes nearly eight years of litigation over unclaimed Official Checks and returns more than $190 million to the people of Arkansas, our coalition partners, and other states,” Griffin stated. “I’m proud of our work on this important case, and I’m grateful to our coalition partners—particularly the attorneys general of California, Texas, and Wisconsin, and attorneys for Pennsylvania—for their hard work on this matter.”
Delaware will provide the coalition states more than $102 million as part of the settlement, according to state officials. All 50 states will share in an additional $89 million from MoneyGram, with the coalition states receiving close to $55 million plus interest.
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MoneyGram has to report amounts on unclaimed unofficial checks, according to state officials in Arkansas, and the money has been deposited in the state auditor’s unclaimed property fund.
Residents of Arkansas are eligible to retrieve the funds deposited in the unclaimed property fund, according to representatives of the attorney general’s office.
