Establishes a task force to recover pandemic-era unemployment compensation funds held by financial institutions or escheated to State unclaimed.

The Recover COVID Unemployment Fraud in Banks Act aims to recover unclaimed pandemic-era unemployment compensation funds held by financial institutions or escheated to State unclaimed property administrators. It establishes a task force to coordinate with federal and state agencies, issue guidance, and develop model processes for cost-effective recovery. The bill also extends the statute of limitations for criminal and civil enforcement actions related to unemployment fraud under certain programs.

Establishes a task force to recover pandemic-era unemployment compensation funds held by financial institutions or escheated to State unclaimed.

The Recover COVID Unemployment Fraud in Banks Act aims to recover unclaimed pandemic-era unemployment compensation funds held by financial institutions or escheated to State unclaimed property administrators. It establishes a task force to coordinate with federal and state agencies, issue guidance, and develop model processes for cost-effective recovery. The bill also extends the statute of limitations for criminal and civil enforcement actions related to unemployment fraud under certain programs.