Pennsylvania Looks to Tighten Oversight on Unclaimed Property 'Finders'

New legislation aims to protect consumers from high-fee services when they can claim funds directly for free

Published on Mar. 5, 2026

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The Pennsylvania state legislature is considering a bill that would strengthen regulations on 'finder' companies that offer to recover unclaimed property for a fee. The proposed law would require finders to register, undergo background checks, and limit their fees, while also directing the state Treasury to provide more transparency and guidance for residents to claim their unclaimed funds directly at no cost.

Why it matters

Unclaimed property can represent significant sums of money owed to individuals, and many states have programs to help reunite this money with its rightful owners. However, some companies take advantage of this by charging high fees to 'find' this unclaimed property, even when the owner could claim it for free. This new legislation aims to protect Pennsylvania residents from these predatory practices and ensure they can easily reclaim what is rightfully theirs.

The details

Senate Bill 1201, introduced by Pennsylvania State Senator Lynda Schlegel Culver, would update the state's unclaimed property law in several ways. It would require 'finders' who offer to recover unclaimed property for a fee to register with the state, undergo national criminal background checks, and comply with ethical standards. The bill would also expand disqualifying offenses for finders and increase penalties for violations. Additionally, it would mandate that written agreements with finders clearly disclose that owners can claim property directly from the state Treasury at no cost, and it would reduce the cap on finder fees from 15% to 10% of the recovered amount. The state Treasury would also be directed to maintain an online database of registered finders and provide sample claim forms for transparency.

  • The Pennsylvania legislature is currently considering Senate Bill 1201.
  • If passed, the new regulations would go into effect upon the bill becoming law.

The players

Lynda Schlegel Culver

Pennsylvania State Senator who introduced Senate Bill 1201 to strengthen oversight of unclaimed property 'finders'.

Stacy Garrity

Pennsylvania State Treasurer, who supports the legislation and has worked to return more unclaimed funds to residents through programs like Pennsylvania Money Match.

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What they’re saying

“Pennsylvania has made it easier than ever for residents to reclaim property held by Treasury at no cost through programs like the Pennsylvania Money Match. This bill adds safeguards so families have clear information and stronger protections before agreeing to pay a finder's fee.”

— Lynda Schlegel Culver, Pennsylvania State Senator (tristatealert.com)

“At Treasury, we are setting new benchmarks every year by returning more unclaimed property to Pennsylvanians than ever before – a testament to our unwavering commitment to serve the people of our Commonwealth and get this money back into the right hands. I am deeply grateful for Senator Culver's leadership in introducing legislation that brings meaningful enhancements to our program, raising the standards for finders and making sure property owners receive what is rightfully theirs without losing a big cut to someone else. I encourage Pennsylvanians to contact Treasury or their local legislators directly to claim their funds for free.”

— Stacy Garrity, Pennsylvania State Treasurer (tristatealert.com)

What’s next

The bill has been referred to the Pennsylvania Senate Finance Committee for consideration. If passed by the legislature, the new regulations would go into effect upon the bill becoming law.

The takeaway

This legislation aims to protect Pennsylvania residents from predatory 'finder' companies that charge high fees to recover unclaimed property, when individuals can often claim that money directly from the state for free. By increasing transparency, oversight, and consumer protections, the state hopes to ensure more unclaimed funds end up back in the rightful hands of their owners.