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Indymac Bank


They lied about my FDIC coverage

Complaint Rating:  100 % with 4 votes
100% 4
Contact information:
IndyMac Bank
United States
I am writing to let the general public know how corrupted the U.S banking system is.

I have two cd accounts at Indymac. I was repeatedly told by Indymac employees that they are fully covered by FDIC. I even have something in writing from 7/8/2008 stating my funds were all insured. Yet, I just found out today that a significant amount of my funds were not covered. I am divested. I worked so hard so for the money and now they are gone overnight. And the worst part about it was, I tried to add joint account holder or beneficiary to maximize my FDIC coverage just few days before they closed, but did not do so because two Indymac bank employees told me my funds were already fully insured.

I want all Americans to learn from my mistake and know that their money is not safe with banks. The funds may not be FDIC insured, even if their bank tells them they are. The U.S banking system is totally corrupted. Whether Indymac bank employees lied to us intentionally or they just did not understand FDIC coverage. Banks cannot be trusted! US banking system cannot be trusted!
Complaint comments Comments (4) Complaint country United States Complaint category Banks


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N  15th of Jul, 2008 by    0 Votes
As a former FDIC employee, I received numerous calls stating that the bank told its customers that their accounts are fully insured. When I tell that the bank is wrong, they want to argue with me because they "trust" their banker.

The FDIC set up a website so people can check for themselves. The problem is that they again "trust" the banker and complain after the fact.
D  17th of Jul, 2008 by    0 Votes
Why can't freaking FDIC ask banks to provide written FDIC coverage for their customers as part of their agreement to provide coverage for the bank customer. Right now bank is saying one thing FDIC is saying other. Who should we trust ? Even if I trust FDIC rep, I still don't have anything in writing about my FDIC coverage come bank failure.
A  29th of Jul, 2008 by    0 Votes
Indymac lied to me too!
I had a similar thing happen. Indymac told me I was insured for $200000 because I had a ITF account. I knew about the $100000 per account rule but this bank employer (from India) told me this and I trusted him. Now the FDIC says it's my fault for not being informed and 'knowing they were lying'. They can't get away with this and the consumers need to act. Are there people willing to complain and how can we do this as I group. I was lied to and even today the FDIC said I could take out my CD without penalties, then Indymac sent me an email that there would be penalties?? This is a small bump but the larger issue is how can we fight this, . Any ideas? I lost $27, 000, single mom, life savings...not a savvy banker, but I did trust this person, why wouldn't I? The FDIC agent said to call and complain at the Office for Thrift Supervision @800-842-6929, call your Congressman, call Attorney General's Office in CA? Any thoughts?
A  8th of Mar, 2009 by    0 Votes
What really get's me is the fact there are still loan officer's has of Feb. '09 still making $20k-$30K a month. This is not a joke, I used to know a couple of colleagues there. This need's to be investigated somehow. Everyone is losing their homes and so forth, while employes are still cashing in.

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