Washington families claim KeyBank won't redeem their bank bills
A group is fighting KeyBank claiming the company refuses to honor their families' decades-old investments.
“It's money that my uncle and aunt gave me for my future," said Katrina Johnson, one of the plaintiffs in a lawsuit against KeyBank. "I want to get what I'm owed."
Johnson and several others own bank bills, which were popular in the 1980s. Bank bills, which are like a CD, guaranteed a robust return on investment, often 7-10 percent, and in some cases, as high as 15 percent.
“I’m told that roughly this should be worth $250,000,” explained plaintiff Mark Miller as he unfolded a stack of bills his mom gave him before she died two years ago. “So, that’s a big chunk of change.”
The bank bills were originally issued by Rainier Bank, a long-defunct chain that had locations throughout Washington state.
The families and their attorney Eric Harrison claim KeyBank ended up acquiring some Rainier Bank locations and is now responsible for the bank bills.
https://www.msn.com/en-us/news/us/washington-families-claim-keybank-won-t-redeem-their-bank-bills/ar-BB10qTFr?ocid=hplocalnews
