CLEVELAND, Sept. 18, 2020 /PRNewswire/ -- This morning, KeyBank unfortunately experienced approximately a three hour delay in processing the supplemental Lost Wages Assistance (LWA) payments for unemployed New Yorkers. The issue has now been resolved and recipients have started to receive their LWA payments. All remaining LWA payments for New York will be received this afternoon by 4:30 pm ET.
We understand how critical these additional funds are and apologize for the inconvenience and un-needed stress this error has caused. We are reviewing our processes and systems to ensure future LWA payments are processed correctly and delivered on time.
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $171.2 billion at June 30, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and more than 41,000 KeyBank ATMs and Allpoint surcharge free ATMs for many customers when using a KeyBank debit card nationwide. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC. ©2020. KeyCorp.