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article imageBank Of America Refuses To Pay 80-Year-Old's $5,000 Bond

By Chris V. Thangham     Oct 2, 2007 in Crime
80 year old widow, Bette Miller purchased a $5,000 bond in 1984 from Rainier National Bank, whose assets are owned by current owner Bank of America. When Mrs. Miller tried to cash the bond with her certificate, the Bank of America refuses to pay the bond.
Bette Miller made an investment some 22 years ago in 1984, she bought a $5,000 bond from Rainier National Bank, which was taken over by an intermediary bank and eventually purchased by Bank of America. When Bette Miller tried to cash the bond which is worth $30,000 now, the Bank of America is refusing to pay her. They say they have no record of the bond and have been delaying the payment for the last two years.
Haggerty, Senior Vice President of West Coast Media Relations for Bank of America said the only way to find the authenticity of the bond is to find tax records dating back 20 years or more. Most of taxpayers seldom keep their records beyond 5 years, but Bank of American insists on this 20 year old tax record.
Bette’s attorney, James Jackson thinks Bank of America is using delaying tactics by claiming they don’t have the records. If the Bank of America doesn’t have the original records it is not the client’s fault, when she has the original bond certificate. The certificate clearly states that it is a valid proof that the owner purchased a $5,000 bond.
Both the bank and Ms. Miller have checked the unclaimed property office and there's no sign of the bond record.
It is just another disgraceful behavior from Bank of America instead of honoring the bond agreement, they try to intimidate and delay the rightful payment for this elderly woman. She deserves better than this treatment.
Is the ownership of the bond sufficient or do we need more proof like Bank of America insists?
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