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GGD-83-45 1 (1983-03-31)

handle is hein.gao/gaobabdzb0001 and id is 1 raw text is: 




BY TiHE US, GENERAL ACCOUNTNG


OFFICE


Report To The Chairman, Subcommittee On

Commerce, Consumer And Monetary Affairs

House Committee On Government Operations







Summary Of Survey Results:   RELEASE)

Bank Policies On Dormant Accounts


Most banks classify accounts as dormant or
inactive after a certain period without any
customer contact and use special safe-
guards in handling these accounts. In addi-
tion, some banks impose service charges
and some stop paying interest on inactive
accounts. GAO provided assistance to the
subcommittee in conducting a survey of
bank policies and practices nationwide. The
results are presented in this report.


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GAO/GGD-83-45
MARCH 31, 1983


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