California is holding $15 billion in unclaimed property. Other states automatically return the money.
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The Bottom Line
California holds $15 billion in unclaimed property, including funds for charities, while other states automatically return it.
How This Affects You
If you live in California, money or property you are owed might be held by the state and not automatically returned to you.
AI Summary
CBS News California Investigates found that food banks, children's hospitals, and charities are owed thousands of dollars within California's unclaimed property system. This system holds $15 billion in total unclaimed property. Other states automatically return such money to its rightful owners. The article implies these organizations are not receiving funds they are due.
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