Congressional Oversight and Regulation

Federal lawmakers have introduced the bipartisan SAFER Act in response to reporting that prompted questions about how states handle unclaimed investment assets, particularly after a CBS News investigation into California's practices. The legislation would impose new limits and guardrails on states' use of dormant financial accounts and update recovery rules for modern instruments such as digital assets, aiming to make it easier for rightful owners to reclaim property and harder for states to treat those funds as routine operating revenue.