1. Short title This Act may be cited as the Promoting Access to Justice through Unclaimed Deposits Act of 2018 . 2. Requirement for deposits of unclaimed funds (a) Interest and dividends generated on unclaimed funds Each financial institution shall— (1) deposit the principal amount of any unclaimed deposits the financial institution receives or holds into an interest or dividend-bearing account; and (2) transfer any interest or dividend generated on such amount to a fund or account of the State— (A) in which such financial institution is located; and (B) into which such State deposits revenues from interest on lawyers trust accounts. (b) Interest and dividend Rate Each financial institution shall ensure that deposits into each account described in subsection (a)(1) earn the highest interest rate or dividend generally available to other customers of such institution if such account meets the same minimum balance or other minimum qualification for such interest rate or dividend. (c) Regulations required Not later than 90 days after the date of enactment of this Act, the Federal Deposit Insurance Corporation and the Chairman of the National Credit Union Administration shall promulgate such rules as may be necessary to carry out this Act. 3. Definitions In this Act: (1) Financial institution The term financial institution means— (A) a bank, as defined in section 3(a) of the Federal Deposit Insurance Act ( 12 U.S.C. 1813(a) )