SEATTLE -- Puget Sound National Mortgage Corp. said negotiations with Puget Sound National Bank to settle a lawsuit over the companies' names have broken off.
The bank -- a unit of Puget Sound Bancorp, which has an agreement to be acquired by KeyCorp of Albany, N.Y.-sued the mortgage company last month. The bank alleged trademark and name-identification violations, claiming the mortgage company was creating negative publicity.
Ross Grimm, vice president of Puget Sound National Mortgage, said he was "perplexed" over the lack of progress and complained of the bank's "steamroller attitude."
