EverBank Can Multiply Your Financial Woes

Does anyone know if US residents can open accounts in icelandic banks (over the internet, perhaps)? Perhaps one might instruct Everbank to transfer the ISK monies at CD maturity to a personal account in icelandic bank, instead of converting ISK-to-dollar at atrocious exchange rates.

Here's the letter I am sending out tomorrow to Everbank:Attention: Thomas A. Hajda Everbank General Counsel Chuck Butler, President Everbank World MarketsSaturday, December 13, 2008Dears Sirs:This letter is in response to your letter, dated October 30, 2008 in which you responded to my Fedexed letter, dated Thursday, October 16, 2008, in which I provided my written instructions to explicitly “roll-over” my CD denominated in ISK maturing October 29, 2008. My letter was received by Everbank on October 21, 2008, signed for by “D.Goodman”. Even though every document I have from Everbank stated the “roll-over” would be automatic, I wanted to make sure there was no misunderstanding on the issue. Of course, I also provided online instructions to the same. I note you did not state receipt of my Fedexed letter, but rather referred only to the online message on your Everbank web site, which is either unprofessional at best, or an attempt at deception, at worst.Nevertheless, Everbank did forcefully close out the CD and exchanged it for USD at a rate of 253:1, compared to most quoted rates of the day (118:1). Although the rates Everbank provided were absolutely unfair to me, and exhibited Everbank’s obvious disdain for its customers, this is in fact not the core of the issue: ownership of a deposit (me) with a certification from the guardian of that deposit (Everbank). As the owner of that deposit, I and only I can determine when and the conditions of its withdrawal. As an institution, Everbank has the legal and fiduciary obligation to respect my ownership, even though Everbank may impose restrictions and other policies, such as early withdrawal fees and such. That in mind, nowhere within Everbank’s literature, prospectus or schedules available to me (I maintain copies), was there any indication of a forced closing on a certificate of deposit. The only case Everbank could do that would be if Everbank financially collapsed, and its FDIC insurance would consequently protect depositors. This was not the case here.What Mr Hajda explained in his letter was that Everbank entered into risky “forward contracts” on the Icelandic currency (ISK). This is irrelevant to my certificate of deposit as investing strategies of banks is not of my concern, ultimately, as I had and still have FDIC insured deposits. The same is true with all bank investments using depositors’ funds as the basis for banks’ investments. If I had wanted to take on that additional risk, on top of currency valuations, I would not have opened a Certificate of Deposit!!!With this letter:1. I demand Everbank pay me the value of my deposit, plus CD interest, plus typical money market interest of what is owed me for the time it is owed, minus what has already been refunded;2. I am instructing Everbank, once again, to “roll-over” my 2nd ISK CD, maturing 12/17/2008. If Everbank will not that, I demand to be paid the full value of my deposit plus interest.

Everbank just sold me out too! They sent the letter (via US Mail) saying that they would renew. I saved both the fraudulent letter and the envelope in which it came. The website showed my instructions to renew, right up until until the day they closed my so called CD. They violated their own "Truth" in Savings disclosure, which guarantees renewal. The money wasn't actually even on deposit at Everbank. I was told by Jennifer at Everbank that their "dealer" in Iceland alegedly had it all along. They advertise FDIC insurance. How can the funds be insured if same are actually in a foreign country? When they sell our assets at a discount, who pockets the rest? Not us! Isn't this mail fraud, along with embezzlement, and false advertisement? Are there any US Postal Inspectors reading this? Are there any US Attorneys reading this? Is there anyone form the Office of Thrift Supervision reading this?Forget about an Icelandic bank account. I opened one, and then they said they couldn't transfer to that account. Chuck is conveniently gone until Dec 29th. I just joined your club.

MSA: The guidance I can offer is the 3 step process I am following:1. Hammer the official channels with demands of action;2. Approach specialized lawyers as to the feasibility of a class action lawsuit;3. If and when the above 2 have failed, consider an individual lawsuit against Everbank.I got an email from MikeMillen@aol.com a couple of weeks ago saying he was preparing to make an announcement to us, but Hans Bader's post above suggests to me we'd have to live in California for that, which I don't.

Sometime ago I received a reply to my OTS complaint from the Everbank lawyer, I quess this is the process the OTS uses to try to get the Bank and customer to settle this between themselves? The EverBank reply was basically nothing but he did say he was sorry….. I replied back to the OTS and restated my complaint. I live in Washington state so maybe I will try contacting banking authorities here? Or what about a small claims action to recover part of the loss?

Oh, you better believe they're reading it. As it stands, they think they're going to get away with it. We'll shall see…

I've started a blog for people victimized by Everbank. Please feel free to comment on it or to contact me by email.

The web address is as follows: http://thetruthabouteverbank.blogspot.com/

Yes, good job D, now all you whiners and complainers can shed all your tears there instead of polluting this libertarian site with your complaints about how little the Feds are doing to protect you from our global free market financial system!

Jason posted a few comments a while ago suggesting we were "lucky" to have got anything out of our ISK CDs. Well, guess who this Jason might be? Look at this Everbank list of Recent Promotions, then see "Jason Coots":With approximately $6 billion in assets and the support of 1,500 employees, the EverBank® Family of Companies builds upon a long-standing commitment to deliver innovative banking, lending, and investment products and services of exceptional value. Over 450,000 customers benefit from our high yields on checking and saving products, unique global market products such as foreign… New Hires and Recent Promotions at EverBankZac Addison, Assistant Vice President — Litigationwas Assistant Vice President — Litigation at Citi Residential Lending – 3 months agoRuss Cox, VP Project Managementwas Group Director – Customer Care at HSBC Card Services – 4 months agoKathy Mulholland, Accounting and Audit Coordinatorwas Associate, Project Resources Division at Steven Douglas Associates – 2 months agoJulie Hutcheson, HR Business Partnerwas HR Generalist at First Guaranty Bank – 2 months agoJustin Ferris, Area Sales Manager at EverBankwas Sales Manager at American Sterling Bank – 5 months agoElizabeth Brown, VP Senior Project Managementwas AVP Project Management – 2 months agoChristian Kren, Vice President of Business Financewas Vice President Planning & Analysis – 5 months agoJason Coots, Vice President-Marketingwas Assistant Vice President-Marketing – 5 months agoJim Hamby, SVP Director of Business Financewas SVP – 3 months agoDan Pastrana, Loan Officer with The Advisor Groupwas Underwriter/Processor – 4 months ago

The troll sez: You might want to take your conspiracy theories over to D's blog. This here one ain't your private sob-sister site.

Hmmm someone posted on an internet blog that happens to have the same name as someone working for this company with 1500 people. Seems like you are stretching for something here… Doubt anyone would use their real name if they did work for them… Then to put the guy's profile on here without any proof… VERY classy move Christian.