There are state laws that require financial institutions to do this actually. Their hands are tied here. It's called "escheatment". https://www.sec.gov/fast-an

There are state laws that require financial institutions to do this actually. Their hands are tied here. It's called "escheatment". https://www.sec.gov/fast-answers/answersescheathtm.html https://www.sec.gov/fast-answers/answersescheathtm.html