Product: Checking or savings account

I am writing to address what are dishonest and deceptive tactics that certain people at Key Bank, XXXX, Alaska are using in order to apparently maximize profits at the expense of public CD holders. The dishonesty is undoubtedly harming many Alaskans, especially those who bank remotely because we live in the many distant communities not connected by easy transportation to the physical bank The issue is as follows. Previous to having XXXX CDs mature on XX/XX/XXXX at Key Bank, XXXX, we were contacted by the Bank and encouraged to renew or roll over these accounts that were about to mature. We happened to be in XXXX on XX/XX/XXXX. At that time we had a long meeting with XXXX ( XXXX XXXX ) at the bank. She assured us that the while she couldnt guarantee the exact rate at the moment of rollover it would be similar and substantially the same since there were no Fed meeting and rates were unlikely to change much from the current XXXX % APY. We agreed to renew them based on the information we were given. We contacted the bank again on XX/XX/XXXX a Friday as the CDs matured on Sunday XX/XX/XXXX to make sure everything was in order and were assured that it was. At no time while we were in the bank on XX/XX/XXXX or by phone on XX/XX/XXXX were we informed that the 7 months CD was no longer available and that we would need to change to the 8 month CD. 

After XXXX months we discovered by chance that the bank had not in fact renewed or rolled over the CDs, but changed them to CDs paying only XXXX % ( XXXX XXXX of the rate we were getting ) without contacting us or informing us in anyway that they had done that. They made XXXX effort to inform us of the change. 

The XXXX CDs in question were initially purchased on XX/XX/XXXX and matured on XX/XX/XXXX at a rate of XXXX % APY. They were to be renewed for the same time period, but the bank now claims that there was a promotional time period and that 7 month CDs were no longer available at similar rate. at the maturity date of XX/XX/XXXX so they put the money, again without informing us, in 7 month CDs at XXXX %, even though they reassured us on XX/XX/XXXX and XX/XX/XXXX that these CDs could be renewed at a comparable rate to XXXX %. They could have renewed them at the same original rate for an 8 month period but instead chose to open new CDs at the nearly nonexistent rate. We were expected to believe that their CD structure magically went away on Sunday XX/XX/XXXX. Furthermore by definition it is not renewed or rolled over when the product we were led to believe has changed and no longer exists. 

When I complained that this practice must affect many people, the bank manager freely admitting that it happens all the time, and in fact stated that he came into the office on his day off to issue a new CD for a XXXX client that this had happened to. Obviously the practice is widespread. 

The bank now claims that there is nothing we can do except to personally come to the bank, close out these CDs and create new ones. Two points : first the XXXX CDs, {$30000.00} each, at an annual rate of XXXX % would have generated {$3400.00} over the term of the CDs or {$480.00} per month. Since we will have effectively lost more than 2 months of interest the bank will have netted over {$970.00} on this deceptive practice. Secondly, to go to XXXX from our remote community costs {$450.00} round trip for XXXX person in airfare, a hotel nearly {$300.00} ( summer rates ). A rental car would be required ( summer rates ). Total costs would be upwards of {$800.00}. The bank manager, XXXX XXXX, who we next contacted, is well aware of the costs. He also knows that the cost of going to XXXX would equal what we stand to lose over all. Apparently, they are counting on us just deciding on live with it and continue to pay the nest to nothing rate. However these funds represent a large part of our lifetime savings so maximizing our interest income is crucial to us. Im not willing to just let it go. 

Again, at no time did the bank say that these CDs were not renewable because the same time period was not offered or that we would need to reopen these CDs with different terms. The XXXX stated that we had done everything correctly and that there was nothing we could have done differently And again the manager, XXXX XXXX, claimed that coming in and sacrificing the XXXX months of interest was the only way that this could be fixed. Ten days ago he stated that he would try to see if he could do something but since then we have heard nothing and our our calls are not returned, weve lost an additional ten days of interest and continue to lose out There are many thousands of Alaskans living off XXXX XXXX system who have to bank remotely. It seems likely that they are targeting those who can not easily fix their deception. 

We most sincerely hope that for our sake, and without doubt the sake of others being hurt financially by the dishonesty and deception taking place at Key Bank, XXXX. 

I hope that this fully explains the situation. 
I am XXXX years old, we are retirees. We live on social security and interest from our savings, so this is important to us. If these deceitful practices are impacting us, then they are surely harming others.