Simon Mahanna v. U.S. Bank National Assoc.

MELLOY, Circuit Judge.

In the late 1980’s Plaintiffs Simon Ma-hanna and Debra Ann Mahanna, husband and wife, gave physical possession of gold coins and proof sets to a predecessor of Defendant U.S. Bank, N.A. (“U.S.Bank”), as collateral to secure a line of credit. In 1997, in the midst of bank mergers and branch closings, Mr. Mahanna personally inquired as to the location of the gold coins. A bank representative informed him that the bank could not locate the coins but was investigating the matter. Mr. Mahanna continued to inquire about the collateral for twelve years and was repeatedly told…