Tagged: banking

Forgotten bank accounts could be put to work for taxpayers much more quickly under a new Illinois law.

The measure says the state can take control of abandoned funds after just one year instead of five years. The rightful owners can claim the money if they ever show up, but Illinois will get to collect interest on the funds.

Gov. Quinn signed the law Monday.

Bank of America is the largest bank in the United States, but they've also landed themselves in $137 million worth of trouble.

The bank's problems may be Missouri's gain.