The Credit Slips blog describes
an issue a Bank of America customer experienced when she tried to close her CD on the last day of the CD grace period. Bank of America claimed she was too late, and she was forced to pay the early withdrawal penalty. If you remember, Bank of America now has large early withdrawal penalties
that are not connected with its ultra low interest rates.
After she filed a complaint with the OCC, Bank of America responded with a refund of the penalty and a $400 gift card for her troubles.
If you think a bank has acted wrongly and you can't resolve the issue with the bank, you should contact the bank's regulator. I have more details in this post about how to file a complaint against your bank or credit union.
Most CDs do automatically renew at maturity. If you want to withdraw the money, it's critical that it be done during the grace period which typically lasts from 7 to 14 calendar days from the maturity date. In this 2008 post, I described more banking gotchas related to CDs
Credit to The Finance Buff blog post
for this find.