Pissed Consumer - Indy Bank

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Indy Bank

Jul 15, 2008

INDYMAC BANK complaint

I bought 2 $100,00 CDs in May over the phone-each account was in my name and I asked if each account was insured-he assured me that each was a separate account and they were insured by FDIC-(I am sure the conversation was recorded) - I am now faced with a loss of $50,000 and must make a claim with the FDIC-

I am a senior living on SS and a small pension-this is my life savings- I am devastated- I am looking for a lawyer to file a class action against this bank and the person who signed the certificates for not disclosing the true facts- if you have been duped by this bank and are losing your money please e mail me- This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

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Comments (5)

1. Written by going real crazy here, on 16-07-2008 17:41

I am in a similiar situation, they had supposedly corrected my accounts to have trusts, but they did not and I am potentially losing 280k even after getting my 50 %.. Any website or any info on a lawsuit against them?

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2. Written by Nick of MI, on 16-07-2008 16:19

RE: The person who bought the (2) CDs......why? Sure, CDs are supposed to be a 'safe' haven; but that is all they are..safe. Unfortunately, not in this case however. By the time you receive mini-interest on these 'parking places' and see what kind of inflation we are faced with, where are you? However, I am sorry to hear of your plight , and I wish you well in contending with this matter.

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3. Written by So FED Up, on 16-07-2008 07:50

I really feel for you and banking customers in similar situations as you. Most customers do not know that you are ONLY insured for up to 100K. That is, 100K per customer not 100K per account. So if you have 2 separate 100K accounts then you stand to loose a whole 100K. Research this fact in the company's poilicy and make sure I'm right, I'm pretty sure I am. Best of luck to you.

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4. Written by Joe, on 15-07-2008 23:36

I got portion of mine. I am still waiting for FDIC to get back to me regarding the rest. I think about 50k won't be covered but not sure.

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5. Written by many signs were ignored, on 15-07-2008 17:46

I'm happy - I got all my money out.

Good luck with the law suit.

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