My wife and I are part of a 'Ponzi Scheme' and so the SEC liquidated DLG (the co. paying our mortgage).Indy Mac Bank is our loan co.Are you aware that they make more money through 'foreclosures'than by doing loan remodifications ?They signed Sweetheart'deal with the FDIC.THEY DON'T CARE IF THEY THROW YOU AND YOUR FAMILY OUT INTO THE STREET ! YOU'RE ONLY A DOLLAR SIGN TO THEM !
I just called them and mentioned to Indymac Mortgage that I lost some money with them, this guy Ryan just hang up the phone on me. I never, ever will deal with such a bank...I just want my money back!!!
This was my hard earned money. I didn't gamble it or play the market with it. I kept it "safely" in a bank where I was repeatedly told that it was fully insured. This was my life's savings, something to fall back on during hard times and to put my kids through college. I am not rich or wealthy, just a single mother of three children who was misled and deceived by an institution backed up by the FDIC's promise that if the bank failed, my money was secure. Please give us our money back.
I am a working mother. I have 2 little kids to support. Yet nobody told me to add their names to my account to get us fully protected. Now I lost my job for nearly a year. Please do the right thing to refund my hard earning money back.
Bill is not a bailout. This Bill has and deserves bi-partisan support. Bill provides equal treatment of depositors with regard to their FDIC insurance that they received. No tax payer dollars are used. Monies comes directly and completely from an insurance fund that banks are required to pay into.
Before,, YES BEFORE!! opening my acct at Indymac I spoke with FDIC and Indymac supervisors whom incorrectly assured me that my name plus (wife,siter,mother,father all as intrust for(s)) would each seperately receive full 100K insurance. Unfortunately that was incorrect as i learned 2 years later. Appearantly my name doesn't and did not count on in trust for accts and thus I lost more than 83,000. I was a saver not a speculator. We seek the same insurance that other depositors received.
THANK YOU FOR YOUR PROMPT RESPONSE. I HAVE A $100,000 CD WITH INDYMAC MATURING IN FEB 2009. WHEN I WENT TO INDYMAC TO CHECK ON THIS CD, I WAS GIVEN THE PRINCIPLE ON THAT CD OF $89,650.00 ON DEC 2008. ON APRIL 2008 THIS CD HAD BALANCE OF $100,684. I DID NOT MAKE ANY WITHDRAWLS DURING THAT PERIOD, BUT FDIC/INDYMAC DID ACCORDING TO MY STATEMENTS. WHAT HAPPENED TO $11,034 ? INDYMAC STATED THAT I SHOULD HAVE GOTTEN A STATEMENT TO THIS EFFECT FROM THE FDIC. HOW WONDERFUL THAT I WOULD BE NOTIFIED OF THE THEFT ! AWAITING SOME GOOD NEWS,
IF YOU ATTEND TO THIS YOU WILL HAVE A FEATHER IN YOUR CAP AND MANY UPCOMING VOTES!
Please support this bill so we can get some of our hard earned money back. This money belonged to my 90 year old mother from the sale of her home to pay for her care in assisted living. She was not rich. Her home that she lived in for 50 years was paid for by scrimping & saving all her life.
Please support HB 5429 and the InDY Act to raise the FDIC insurance levels as of July 2008. This is not a bailout. This legislation is fully paid by the banks through FDIC fees. It is critical that this legislation pass to set our country on the road to recovery. In light of the economic crisis of the past 2 years coupled with the devastating economic impact of the oil spill our nation needs this legislation to restore confidence in the financial system.
Given the corruption underlying the Indymac Bank failure and subsequent purchase, the action of approving the INDY ACT is at least a token gesture on the part of government to shorten the yardstick of wrongdoing.
Please support the bill to make FDIC insurance retro-active to January, 2008 in the amount of $250,000. FDIC took over $70,000 of my retirement money. As a retired high school teacher, I am entitled to living the rest of my life in a somewhat reserved and careful lifestyle. I am not looking for a handout or a bailout--I simply want MY own, hard-earned, money back. Thank you.
I was deceived by the IndyMac account representatives and given errouneous direction in regards to account set ups... because of which my family lost our hard earned and saved funds that were earmarked for my children's education. Now, my son has to attend a public school system, because we are out those funds... With the increase of the FDIC insurance from $100K to $250K, will allow me to receive those funds.
We are not asking for hand-outs or any bail-outs, all we are asking is to get what is OURS, which was stolen from us, because our bankers did not know the rules.
I had the pleasure of opening an account 30 days before Indymacs collapse. The amazing part is that Indymac was under investigation for quite some time by the FDIC, however they were still allowed to accept deposits up till their closing date. This is not illegal? on top of it all, my HELOC loan thru Indymac is still in full force. Every month I get a new statement with Indymac Bank as the mortgagor, it makes me sick. Please give all us middle class citizens back our hard earned money.
I was also told by the bank's management that my deposits were 100% insured. They were aware of the number of beneficiaries I had listed on my accounts. If I had any idea I wasn't fully insured I would have put my last deposit in different bank. IndyMac was offering higher interest than other banks. I and other depositors that were given incorrect information feel this was to entice depositors to make deposits in a bank that was about to fail. My last account was opened about three months before IndyMac was taken over by the FDIC and the money in my account seized. Me and my family feel it is only fair that I have the same insurance coverage of $250,000 that other depositors insurance was increased to and would like this made retroactive to cover IndyMac depositors.
Why was preferential treatment given to mortgage holders over people who deposited cash in cash instruments (CDs)? The mortgage holders took on the very real risk that interest rates would rise and they would no longer be able to afford their loans. But depositors put in hard cash at a time when the risk of a bank failure was orders of magnitude more unlikely that a rising interest rate. Shouldn't the people who took the relatively low risk of depositing cash in a bank be given priority over the people who took a very real gamble with interest rates? Surely people who GAVE cash to the bank should at least get their cash back before mortgage holders who OWE money are relieved of some of their debt! Why should the cash depositors have to pay for the mortgages of other people?
There is significant irony in the fact that many of the 10,000 people who received 50 cents on the dollar for their cash instrument deposits that were over the FDIC insured limit at Indymac subsequently encountered their own inability to pay their mortgage because they needed the full amount of their cash deposits back in order to do so.
And for those who say that depositors should have known better... Remember - this was at a time when bank failures were not everyday occurrences, and many depositors AND bank workers were not aware of the byzantine nuances of setting up accounts so that they were properly insured by the FDIC. In addtion, the insurance limit was only $100K at the time, but was later raised to $250K for those lucky enough to have been banking elsewhere.
When we sold our home of 30 years we wanted to deposit the proceeds in a 'safe' place until we were ready to move near our children. At our age we did not want to risk our chance to be able to buy another home. At the time Indymac Bank was attracting depositors by advertising one of the highest interest rates with deposits covered by FDCI. When we opened our accounts we asked the Assistant Manager, who opened our account, about the solvency of the bank and he assured us that they were solid and our deposits would be secure. We asked him how to set up our accounts so that we would be fully covered by FDIC insurance and he assured us that we were covered.
After the bank failure we stood in line for hours only to find out that one of the accounts was not set up properly and the other account they claimed not to find our signature card. When we confronted the Assistant Manager who opened our account he denied having given us the wrong advice. The same day when we left the Bank we went to our local Wells Fargo Bank and spoke to an officer regarding FDIC coverage and she also gave us the wrong recommendations. This more than proves that at the time bank employees were not properly trained on how to follow FDIC procedures.
Please support HR 5429 to make the $250,000 coverage retroactive for Indymac and other banks depositors. It is only fair that we are also included. This was a deposit in what we thought was a 'reputable' banking instution, where we were sure our money would be safe. This is our own money, not a bailout, a mortgage reduction or welfare!
After my mother died of a ten year battle with Alzhiemers disease I took the inheritance she left me to IndyMac bank. The funds were from the sale of her home which, was the only asset she had left upon her death. So, wanting to protect this precious gift I decided to put it in a zero risk investment..... CD"s. At the time IndyMac was offering great rates, so off to the bank my husband and I went. We sat with the teller and explained to her that although the amount of our investment was over $100,000, I wanted to be certain that the money was protected and insured. I explained to her that I was moving my money from Countrywide Bank because they were going under and was aware that the banking system was in trouble so I wanted the accounts to be configured correctly to protect my investment. She assured both my husband and I that she knew exactly how to add the beneficiaries so that each account would be fully covered under the law. We even asked her after the meeting if she was sure everything was done correctly and she was confident that everything was correct. I went to the bank on three different occasions and each teller told me that everything was fine and not to worry. The day the bank failed I heard it on the radio in the car and drove immediately over. It was a seen, I thought how can this be happening in America, it was unreal. I stood in line for 4 hours the next day and spoke with the same teller that set up my accounts. She informed me that my accounts had been set up wrong and that a portion of it was uninsured!?! I pleaded with her asking how could this happen, she had been so sure? She then acknowledged that she didn't understand how to set up the accounts! I was stunned! How could this happen in the US aren't there laws that protect the consumer from this type of fraud? Doesn't the bank have a fiduciary responsibility to it's investors to be sure it tellers understand account set up under the FDIC guidelines? Why in the world would the FDIC insure a bank that could not teach it's tellers correct account set up? And yet it happened right here in our country $10,000. people lost money though no fault of their own. The OTS allowed IndyMac to take our deposits when they knew the bank was failing, IndyMac basically got to "cook the books" as many hard working or retired people placed their hard earned funds and trust in an institution and system that failed them by doing illegal and dishonest marketing. With attractive interest rates and assurance that our money was well invested and protected we were all swindled out of our cash. Please correct this incredible lack of responsibility,by IndyMac Bank and the OTS and in doing so give back faith and confidence in our system to 10,000. americans!
In my case, at the time IndyMac Bank officials assured us that the $100,000 insurance coverage per account holder - was for EACH ACCOUNT opened. However, after the bank failed the FDIC paid Depositors $100,000 ONLY on the TOTAL PORTFOLIO (Which included multiple accounts) plus an arbitrary 50% of the balance - leaving Depositors with a significant shortfall of the monies that were deposited in a FEDERALLY insured bank. We have been waiting for going on two years to have our money returned and have our government "Do the Right Thing"
House Bill HR5429 must be passed so that we can realize some partial recovery.
So please support this amendment
Thank you, Don L.
IndyMac gave me bad FDIC coverage information (perhaps intentionally) in order to convince me to deposit more money in their bank. At that time there was no website to verify this coverage information. NY Sen. Charles Schumer caused a bank run (I thought that this was illegal). "I was confident because I knew that I was covered." I trusted the system, did everything right, and ended up losing a large portion of my life's savings; that was supposed to be risk free. (I am retired, I don't have an opportunity to make up for this loss.) Then you changed the rules to protect the people who were not yet affected by a bank failure. Even though now they have a head's up, Indymac customers were all caught by surprise. I am very conservate and do not make high risk, high yield risky investments. I did not in any way contribute to this economic melt down (I carry no debt); yet I end up losing my money and the people responsible come out smelling like roses. This is not the American way. Well, maybe it is now! All I would like is my hard earned money back that I got cheated out of. I don't want a bailout. I don't want a mortgage reduction. I don't want welfare. I just want what was unfairly taken from me. Please do the right thing and support H.R. 5429 the "Investor Deposit Yardstick Act"
IndyMac gave me bad FDIC coverage information (perhaps intentionally) in order to convince me to deposit more money in their bank. At that time there was no website to verify this coverage information. NY Sen. Charles Schumer caused a bank run (I thought that this was illegal). "I was confident because I knew that I was covered." I trusted the system, did everything right, and ended up losing a large portion of my life's savings; that was supposed to be risk free. (I am retired, I don't have an opportunity to make up for this loss.) Then you changed the rules to protect the people who were not yet affected by a bank failure. Even though now they have a head's up, Indymac customers were all caught by surprise. I am very conservate and do not make high risk, high yield risky investments. I did not in any way contribute to this economic melt down (I carry no debt); yet I end up losing my money and the people responsible come out smelling like roses. This is not the American way. Well, maybe it is now! All I would like is my hard earned money back that I got cheated out of. I don't want a bailout. I don't want a mortgage reduction. I don't want welfare. I just want what was unfairly taken from me. Please do the right thing and support H.R. 5429 the "Investor Deposit Yardstick Act"
On May 29, 2010 Congressman D. Drier and Congresswoman Jane Harman introduced HR5429, The Investor Yardstick(Indy )Act, to help families and small businesses who were INDYMAC Bank depositors recover $233 million in lost savings. Please contact your own state senator and/or your district congressional representative and make your position abundantly clear. this may be our last chance at being made whole again.
1. Depositors from Banks that failed after Indymac were given 250K protection, therefore Indymac depositors (who were not investors or speculators) deserve the same treatment.
2. Before opening my acct at Indymac,I was told by Indymac bank managers and by FDIC supervisors, that my in trustor account would each receive 100k insurance for all named parties including myself. After the INdymac failure I was told that my name on the acct (when there are named intrust for names) does not count towards receiving 100k insurance, only the in trust for names count.
Most bank supervisors today don't even realize this oddessy.
3. there was no fdic calculator program available prior to banks collaspsing so as to determine the true insurance amount
4. OTS (our govt) instructed Indymac to back date deposits so they could remain off of a bank watch list which would have warned depositors.
My life savings is gone. I am a widow that put my trust in an institution that was involved in corruption. Sadly the Office of Thrift, the FDIC knowingly put depositors at risk, wiping out working class families savings and retirements. We continue to suffer. This is the United States of America - Make this Wrong A Right. Please make the $250,000. FDIC retroactive to include Indymac Bank
I grew up in a communist country where the rights of an ordinary human being were always stepped on. It was normal, we did not aspect anything else. I could never believe that our rights can be so violated and disregarded in the best place on Earth to live. How sad and unfair. Money and power rules everywhere the same.
It's unfair by our government to take over some many dollars from a bank and not to distribute to all of us the money that took us so many years to save. EDUARDO ESTRADA
INDY MAC BANK AND FDIC
231 People Have Sent 259 Letters and Emails
Sign the Petition
Some recent comments: these messages are published with permission of the signer.
Before,, YES BEFORE!! opening my acct at Indymac I spoke with FDIC and Indymac supervisors whom incorrectly assured me that my name plus (wife,siter,mother,father all as intrust for(s)) would each seperately receive full 100K insurance. Unfortunately that was incorrect as i learned 2 years later. Appearantly my name doesn't and did not count on in trust for accts and thus I lost more than 83,000. I was a saver not a speculator. We seek the same insurance that other depositors received.
IF YOU ATTEND TO THIS YOU WILL HAVE A FEATHER IN YOUR CAP AND MANY UPCOMING VOTES!
ARTHUR G. RUIZ INDYMAC CD #2013007668
1464 E. PUENTE ST.
COVINA, CA 91724
626-332-7157
ARTAMI@AOL.COM
We are not asking for hand-outs or any bail-outs, all we are asking is to get what is OURS, which was stolen from us, because our bankers did not know the rules.
Thanks
There is significant irony in the fact that many of the 10,000 people who received 50 cents on the dollar for their cash instrument deposits that were over the FDIC insured limit at Indymac subsequently encountered their own inability to pay their mortgage because they needed the full amount of their cash deposits back in order to do so.
And for those who say that depositors should have known better... Remember - this was at a time when bank failures were not everyday occurrences, and many depositors AND bank workers were not aware of the byzantine nuances of setting up accounts so that they were properly insured by the FDIC. In addtion, the insurance limit was only $100K at the time, but was later raised to $250K for those lucky enough to have been banking elsewhere.
After the bank failure we stood in line for hours only to find out that one of the accounts was not set up properly and the other account they claimed not to find our signature card. When we confronted the Assistant Manager who opened our account he denied having given us the wrong advice. The same day when we left the Bank we went to our local Wells Fargo Bank and spoke to an officer regarding FDIC coverage and she also gave us the wrong recommendations. This more than proves that at the time bank employees were not properly trained on how to follow FDIC procedures.
Please support HR 5429 to make the $250,000 coverage retroactive for Indymac and other banks depositors. It is only fair that we are also included. This was a deposit in what we thought was a 'reputable' banking instution, where we were sure our money would be safe. This is our own money, not a bailout, a mortgage reduction or welfare!
House Bill HR5429 must be passed so that we can realize some partial recovery.
So please support this amendment
Thank you, Don L.
dont let this happen!
2. Before opening my acct at Indymac,I was told by Indymac bank managers and by FDIC supervisors, that my in trustor account would each receive 100k insurance for all named parties including myself. After the INdymac failure I was told that my name on the acct (when there are named intrust for names) does not count towards receiving 100k insurance, only the in trust for names count.
Most bank supervisors today don't even realize this oddessy.
3. there was no fdic calculator program available prior to banks collaspsing so as to determine the true insurance amount
4. OTS (our govt) instructed Indymac to back date deposits so they could remain off of a bank watch list which would have warned depositors.
Sign the Petition