Lawsuit accuses Bank of America, Key Bank, U.S. Bank of losing bank bond records
About three weeks before Christmas in 1982, Seattle-First National Bank issued two bonds to Mary Cantu's mother for a deposited $1,000 each; she registered Cantu as an heir to the bonds.
Over 30 years later, when Cantu tried to retrieve the money from the bonds, she said she was told by Bank of America that they had no record of them.
Cantu was accompanied by her sister-in-law and several others, all with similar stories, at a news conference Thursday where a lawsuit filed at the U.S. District Court in Seattle against Bank of America, Key Bank and U.S. Bank was announced.
The complaint alleged the banks, after acquiring smaller banks around Seattle in the 1990s, weren't fulfilling requests from registered owners of bank bonds and certificates of deposit when they tried to get their money out. It accused the banks of breaches of contracts, violations of the Washington Consumer Protection Act and negligence.
Martha Salinas, Cantu's sister-in-law, told SeattlePI she took Cantu's mother to "Sea-First Bank" in 1982, where she made Cantu in charge of the bonds in case anything happened to her.
"In case anything happened to her, it was their money, for anything," Salinas said.
Salinas said she kept the bonds in her safe-deposit box until about 2014 when she told Cantu to take them to the bank. The Aurora Village branch of the Seattle-First National Bank was by then a Bank of America branch.
They took the bonds in and were told to expect a call about them. The call later told them, there was no record of the certificates.
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