Banks Changed Hands, Records Lost, People Unable to Cash CDs

A couple of cautionary tales for those of you who have CDs with banks that are changing names due to merger/collapse.

Bank May Have Lost Grandma’s Money

Phoenix resident Rosemarie Braunstein said Wells Fargo has refused to cash her certificate of deposit because it has lost her records.

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Which Bank Owes Couple $400K?

Paul and Christine Dickey have a certificate of deposit worth $400,000, but they have not been able to collect the cash.

The Casa Grande couple has spent a year trying figure out which bank owes them the money.

Paul’s father bought the $10,000 CD in 1980 from First National Bank of Arizona branch in Benson, Ariz. Since then, the bank has changed hands three times.