Legal Question in Banking Law in Minnesota

Refusal to honor CD

My mother purchased a CD in 1985. Since then, that bank was purchased by another bank. My mother passed away in January of this year (2009). In her safe deposit box, we found the original CD. When presented to the bank to cash it out, the bank refused, saying that they had no record of it.

What legal recourse do we have in this matter?

Asked on 5/08/09, 7:51 pm

1 Answer from Attorneys

David Anderson Anderson Business Law LLC

Re: Refusal to honor CD

What is face amount? Interest?

Successor bank would have obligation to honor debts of prior bank. Federally chartered or state bank?

Call or email for help.

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Answered on 5/08/09, 9:54 pm

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