Wednesday, February 24, 2010 - 8:52 AM
Regarding Darby - I have spoken to the FDIC about this type of issue. According to the FDIC, Darby can't change the terms of the initial disclosure unless they specify in the disclosure that it is subject to change. They also need to state that near the term they plan to change. So, they can't say the CD allows unlimited deposits on page 2 and then say this is subject to change on page 5. I don't see that anywhere in the amended agreement. I don't have the initial PDF but if there is no "subject to change" language then Darby shouldn't have altered the agreement. I'd contact the FDIC. the Fed or your local banking commission.
2,281 posts since
May 9, 2010
Rep Points: 3,786
1. Sunday, June 20, 2010 - 1:24 AM
I called them and talked to them and they changed the policy. I have about 220k with them in that account. I am afraid of going over the limit of 250k since the aren't the most solvent bank.