Its doubtful that FDIC insurance was envisioned as a tool for banks to hawk currency forward contracts. Yet that's exactly what Everbank does, misleadingly as "foreign currency ceritificates of deposit". The FDIC website has an online complaint form. While its unlikely a complaint to the FDIC would result in any recovery of lost funds, they might be interested in Everbank's deceptive abuse of their insurance coverage. It might be worthwhile to complain to your congressman on the same count.
This blog was created as a clearinghouse of information for people who have invested in Everbank's Icelandic krona foreign currency "certificates of deposit".
2 comments:
Yes, I will contact my Congressman about this SCAM from Everbank...
With regard to its Icelandic "CDs" that were never actual CDs, but were products of currency speculation by Everbank, I'd say that Everbank was playing with our money.
Tales of other players, albeit not as "respectable" or well-connected, are at this yahooo link: http://finance.yahoo.com/banking-budgeting/article/106500/How-Real-People-Grow-Their-Wealth
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