[PAR35]

Since so many banks and S&Ls in Texas have been closed over the last 30 or so years, I’ll add there are specific federal regulations dealing with cases where the FDIC/FSLIC/RTC weren’t able to transfer the liability to an assuming bank. Generally speaking, that money/asset is going to have ended up with the state, as well.

[9422WMR]

I had this happen to my grandparents. They lived in the same small town and used the same bank, for most of the 90+ years of living. The dumbasses at the bank turned one of their small accounts over to the state for inactivity even though they had a checking account and a very large savings account over $100k.
But the $700 savings account? Sent to the state: inactivite.
My grandmother went to the bank and chewed some asses out on that one. She was in her 80’s at the time!

[matthew fuller]

One fact that might make a difference (in TX) is that there are State Banks, Federal Banks, and I think both State as well as Federal Credit Unions. One rule that I ran into that really irritated me was in a State Bank (Cibolo) where I happened to read the Contract that everybody must sign for a checking account. This "Contract" is hidden ON THE REVERSE SIDE OF What They Call A "SIGNATURE CARD". This rule basically states that, in case that you owe the bank money, They are allowed to steal the amount equal to your debt IF the bank deems you OR THEMSELVES to be financially insecure. This scheme is called "offsetting". I only use credit unions (and a brokerage account) now.