Talk:EverBank
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what became of this discussion area?
Reference 16 is a dead link and doesn't even seem as though it ever had anything to do with a Kiplinger review of this bank — Preceding unsigned comment added by 24.118.235.46 (talk) 22:24, 6 February 2015 (UTC) perhaps the link intended is this one http://www.prnewswire.com/news-releases/kiplingers-includes-everbank-freenet-checking-on-its-best-of-everything-list-56199932.html — Preceding unsigned comment added by 24.118.235.46 (talk) 22:26, 6 February 2015 (UTC)
EverBank World Markets Krona Incident Dismissed by Federal Court
[edit]EverBank World Markets offered Iceland’s krona as part of its foreign currency CD offering. As far back as 2006, this currency was producing double digit returns. However, the collapse of Iceland’s monetary system created a scenario where Iceland’s krona was devalued and, through government action, became virtually impossible to be traded on the open market by any institution. World Markets Trading Desk did their best to warn customers of the increased risk in the krona in advance of the collapse.
After Iceland’s government reacted to the drastic circumstances, EverBank notified investors that their CDs would not be rolled-over. EverBank closed issued krona CD’s on the designated maturity date, and the currency was converted back to U.S. dollars. A proposed class action lawsuit was filed, but it was dismissed by the federal court. The federal court found that EverBank complied with the terms and conditions governing the purchasers’ CDs, and their decisions were made to help stem borrower losses.