2/23/2012 - branch manager Kris Knowlton agreed to accept sight draft for payment for customers vehicle (which US Bank had a lien on), and to submit lien release for vehicle in accordance with sight draft processing procedures.

2/25/2012 - Seller indicated to purchaser, he had worked with Mr. Knowlton to process sight draft and title paperwork should be transmitted shortly to purchaser.

3/7/2012 - It was discovered (now 2 weeks later when title had not been received) Mr. Knowlton had refused to accept draft after initially agreeing to accept it, and had returned it unprocessed to issuing bank (3/3), and demanded cashiers check before lien would be released, without notifying party purchasing vehicle of the refusal, or delays (2 weeks).

3/8/2012 - Purchaser notified US Bank in writing that these delays would result in losses by the purchaser, in form of fees/penalties and lost profit from planned resale of vehicle, if the title could not be submitted in the next several days.

3/8/2012 - Mr. Knowlton sent a letter of guarantee, promising overnight delivery of title and lien release (to remedy delays from failure to process sight draft) upon receipt of funds from a cashiers check issued by the purchasers bank for purchase price of the vehicle, which was sent overnight delivery by the purchasers bank, directly to US Bank on 3/9/2012.

3/8/2012 - Mr. Knowlton issued notice he was directed by officials to avoid any future discussions of any details concerning the title/lien release with the purchaser of the vehicle.

3/12/2012 - Purchasers bank's cashiers check was received by US Bank
3/15/2012 - Sellers loan paid off
3/19/2012 - Cashiers check cleared issuing/purchasers bank

3/21/2012 - Title was still not received

3/21/2012 to 3/24/2012 - Numerous calls/messages were left with with District manager Mike Richardson and Administrative assistant Elena Vandenberg, that went unreturned repeatedly. Customer service at US Bank refused to discuss status of title/lien release with purchaser, and subsequent attempts by purchasers bank were also fruitless.

3/24/2012 - Mr. Knowlton indicated additional information would be required from purchasers bank, before lien would be released (in violation of letter of guarantee), and that he would be on vacation starting 3/26/2012 and unavailable to address the matter at that time. Purchaser informed Mr. Knowlton, that this was a violation of the letter of guarantee, and that legal action would be taken if needed, to recover losses by purchaser, due to delays resulting from breach of contract by US Bank.

3/24/2012 - Purchaser contacted US Bank customer service mgr (Jessica), was informed no one at US Bank would provide the status of the title or lien release with the purchaser, only the purchasers bank. Purchaser informed US Bank rep that the bank was not able to get any information, and US Bank was in violation of letter of guarantee, and purchaser was incurring losses due to US Bank breach of contract, and US Bank would be held liable for losses. US Bank rep requested customer follow up with branch manager on Monday, or district manager, if branch manager was not available.

3/26/2012 - US Bank was contacted by purchasers bank branch manager, and reminded that purchaser was incurring penalties and fees, as a result of delays resulting from the breach of contract to provide title. US Bank Dealer Support center (Anne) promised purchasers bank manager (3rd promise) to overnight title on 3/26 and provide tracking number of shipment on 3/26.

3/26/2012 - "Greg" in the US Bank dealer support center provide a "tracking number" on 3/26, but this proved to not be a valid tracking number. Fees/penalties continue to accrue for purchaser on a daily basis, due to US Banks breach of contract.

To clarify, letter states title (not funds) will be sent once funds have been collected, and as long as there are no stops or holds, title will be sent overnight. There were no
Stops or holds, check cleared sellers bank 3/13,
And cleared issuing bank (buyers bank) 3/19. As
Time was of the essence, sellers bank indicated
At most, a 2-3 day turn around to ship title after
Check was "received". If sellers bank needed
Additional unwarranted insurances, they could
Have asked for cashiers check drawn on 3rd party
Bank, to ensure claim to funds as holder in due
Course, or wire transfer. Currently issuing bank
Has received no consideration for the cashiers
Check, sellers bank has violated contract terms
That check issuance was contingent upon, and
Thus may not be a holder in due course, resulting
In strong possibility issuing bank could make
A defense against sellers banks claim to check. Case
Law seems to be split in instances like this.

The cashiers check, was sent overnight directly from one bank to another. It's almost universally accepted cashiers checks are good as cash, and
Banks as a matter of course, can verify checks by calling issuing bank
When check is presented for payment. This verification is normally
Only done to ensure presenter of check does
Not possess a forged or otherwise fraudulent note.
The UCC and I believe CFR CC discuss fund
Availability from deposit of cashiers checks.
1st $5000 must be available next day, remainder
Can be dispersed after a reasonable time, defined
As 5 addl days. This is may not directly applicable
To loan playoffs, but clearly demonstrates
Normal processing times. Note, as stated in orig post, funds
Were collected 3/13, loan paid off 3/15, check cleared
Issuing bank 3/19. Check should have been considered
"per-verified" as it was sent overnight directly
From buyers bank to sellers bank, and verbal
Confirmation was given along with guarantee letter
That there would be 2-3 day delay, at most to ship
Title, after check was "received". Not withstanding
That, time was of the essence in this transaction,
And title should have been sent 3/13 when
Funds were collected, and it was verified there were
No stops or holds.