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To be honest there have been 1 case or 2 Ive heard so lets be real. That doesnt seem like a major phenomenon in EPB
I have no idea who this person is, or if he had an account at my bank. If he did, I doubt he used it for money laundering. Most likely if he was laundering money, he was doing it at another bank. If there was any evidence that anyone at my bank helped this guy, or anyone else launder money, the massive J5 AML investigation of the bank would have picked it up. However that investigation didn't find a single account where the bank helped a customer launder money or evade taxes. You need to realize that the J5 is putting out misleading information to try to pretend that their failed investigation of my bank was a success. Instead they wasted their time and taxpayer money investigating a bank that did an excellent job of preventing money laundering and tax evasion.

Thanks @orion7352, I’ve sent a few letters to that email, to the other general one posted in this thread and to the receiver. I will continue sending a few more. Has anyone had any luck getting a response feom OCIF in any way. I know the receiver has never answered to emails or phone calls as a fact, because I have phoned a hundred times and I always get the lady saying the receiver will get back to me. Since EPB sent their first communication the receiver has not returned a single call. I have told OCIF this but I haven’t received a reply either. Anyone received a response from OCIF yet? Thanks


Yeah you sent them all the info on the only 2000 customers that weren’t evading taxes or laundering money.
No, the government selected the 2,000 accounts they wanted to investigate.
 
A lot of customers used your Bank @Pschiff to evade taxes and Launder money. When all of this is over, and if customers get their money back I’m sure the stories related to your bank will continue to show up across media outlets. They’ve already closed your bank and this is not the end of the story. You are the biggest shareholder and only person responsible for this mess. Anything you say will no longer make a difference, the damage has been done. Admit some responsibility for this and find a solution, but don’t continue to deny the obvious, as I am a still a client of yours and my only desire is to end this as soon as possible.
Yes, its not the end. The bank never should have been closed. It's government and the media that that were the bad actors, not the bank or anyone who worked for it. Plus ,I've effectively won my defamation lawsuit in Australia, because the media company that falsely accused me of using my bank to help people launder money and evade taxes had no evidence to support that accusation. But its not the end, as the damages part of the lawsuit doesn't happend until late Jan. of 2024. Hopefully in the end the true story of government and media corruption will be widely known.

Youve come on here and done nothing but hate on Peter Schiff. You and that Btc100K clown. If you never diverisfied your portfolio and put everything into EPB, you only have yourself to blame for your complete loss. This is the only place where we have actually got proper updates rather than been left in the dark for the past 10 months and you 2 clowns are messing that up for everbody else by continually blaming Peter Schiff and spewing vile hatred. So please shut up and be part of the solution rather than living in the past. If you have a way to sue a shareholder in a limited liability company, then please by all means share how you intend to do this.

There were some news articles about a raid on one of the alledged EPB customers, but to generalize like you have done inferring EPB facilitated tax evasion like HSBC is complete and utter crap. EPB had robust process on forms to complete for checks for compliance, I remember these and they were PITA to the point where I actually was considering closing my account down. A scam bank does not open up and stay open for better part of 10 years before they are closed down by regulator with an agenda. It is clear that EPB management/shareholders opted for path of least resistance to get customer money back, but regulators chose a way making it more difficult. I do think Peter should have considered this when he opted to agree to the OCIF terms - ie - "we presented x to return customer funds, OCIF opted for y. If funds not returned within 6 months then OCIF waiver any immunity from legal recourse by EPB" for example.

You are holding a corrupt government regulator from a 3rd world nation in high regard, but yet blaming everything on Schiff. All the allegations on what EPB has done wrong are on the internet, all the news articles, court documents, ect. If Schiff and co were responsible for facilitating money laundering and tax evasion, dont you think they would be in prison by now?

So again, me like may of other posters on the forum who have been on here for a while are getting tired of listening to your allegations, come up with a solution and perhaps we may take you seriously.
Thanks. If you would like to submit an affidavit for my defamation lawsuit that you considered closing your EPB account due to how strict the bank's compliance was send an email to [email protected]. 60 Minutes is trying to limit how much they have to pay me for falsely accusing me of money laundering and tax evasion. Your affidavit would help prevent them from doing that.
 
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Hi @spartan7510 I did not insult you. All of my compliance was correct. I can’t even think about why anyone would bank with EPB, if it isn’t to avoid taxes, launder or hide money. All those banks in the world and you so intelligently picked EPB for your legitimate business. And you call me dumb.
As mentioned a couple of times I don’t think @Pschiff is providing any updates. We are here 1 year later in the same position and he is only trying to protect his brand. If he goes dark or not dark it won’t make a difference. We’re still in the same position.

The fact that you come on here running your mouth off is an insult to everyone who has been patiently waiting for updates. This is the only place we had anything tangeable and you are trying to screw that up for everyone (who have been patiently waiting the past 10 months)

Secondly your ingorance is clear since you never understood the bank in the first place and jumped straight on to use it for tax evasion purposes (by your own admission) The bank was a reserve bank - 100% customer deposits on hand, no loans, offered physical gold investment which was liquid and fairly easy to access funds. Therefore its risk to exposure from banking crisis in 2008 and systemic collapse was quite low. So no, it was not like other banks which is why many genuine customers chose to put some of thier funds into the bank and diversify our portofolio.

Lastly, you acknowledged that you used the bank for neferious reasons, somehow you are trying to lump all customers in the same boat with claims that the bank facilitated tax evasion. In order to accomplish this, you would have have to provide false information on compliance check and false information on tax returns. Sorry, dont come on here acting like a victim pal, people like you are the reason the bank got investigated in the first place.
 
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The fact that you come on here running your mouth off is an insult to everyone who has been patiently waiting for updates. This is the only place we had anything tangeable and you are trying to screw that up for everyone (who have been patiently waiting the past 10 months)
Now I understand. You are too scared to say anything negative about Peter Schiff because you are worried he will stop posting updates. Has any of his updates gotten you paid in the past year? He has promised you the money was coming so many times and kept saying his fingers were crossed yet you didn't get anything.

I believe the only reason Peter Schiff posts on here is to try to convince you guys not to sue him. And apparently that is working.
 
What don't you just sue me then? I don't even think you had an account at the bank. You claim that you opened your account to evade taxes and lauder money. If so, your account would have been closed a long time before OCIF shut the bank down. Plus, if your goal was to evade taxes or launder money, you would have picked a bank that had far less strict compliance than my.
 
Now I understand. You are too scared to say anything negative about Peter Schiff because you are worried he will stop posting updates. Has any of his updates gotten you paid in the past year? He has promised you the money was coming so many times and kept saying his fingers were crossed yet you didn't get anything.

I believe the only reason Peter Schiff posts on here is to try to convince you guys not to sue him. And apparently that is working.

What skin do you have in the game? Other than coming on here looking to cause problems? I have my view about what happened which includes PSchiff having some accountability, but looking for practical solutions, not spewing vitriol hatred and trying to troll PSchiff. He is the only one to have given us any real updates these past couple of months. There would be a lot more anxious people on here without these updates. We will get our money back, its just a matter of when and how much (after that useless receiver takes his cut for doing nothing), if not the OCIF who promised that as part of liquidation is accountable and Im sure legitimate customers will then all look at a class action lawsuit agains the OCIF. But we have yet to cross that bridge.

So why dont you bugger off and go post on crypto forums? Suggest you have an exit strategy, because crypto is going to zero when CBDCs introduced and they close all the exit/entry points for normal decentralized crypto. They will pump again one final time, then dump so badly after that when they are either nulled out by CBDC or absorbed into the CBDC eco-system. Ever wonder why bitcoin just magically appeared shortly after the 2008 crash without the formal recognition of the founder, only speculation? Its a trial run for CBDCs....
 
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Peter, I thank you for taking the time to explain everything that has happened so clearly. I don't think you need to say anything else, obviously some people are here to hate, sadly this forum is not immune to haters either, they are everywhere these days.

Some of you, specially the haters, should really try to talk to the Commissioner of the OCIF. You should ask her a number of questions, like:
"Why did she really close the bank?"
"Why didn't she allow the sale of the bank to Qenta?"
"Why didn't she allow Peter to inject more capital into the bank, and liquidate the bank himself?"
"Why did you have to appoint a Receiver, a Receiver with obviously zero experience?"
"Why did you give a press conference which resulted in the freeze of EPB accounts by the correspondent bank, and why did you say things during the press conference that turned out to be false?"
It's been more than a Year since the bank was closed, customers haven't seen a penny of their money, "is this what you call protecting the interest of the customers, shouldn't that be the priority of the Commissioner?"

Until these questions are answered no one should blame Peter for anything that's happened, no I'm not defending anybody, I'm just not a hater (although as time has gone by I have developed a decent amount of hate towards the OCIF and the Receiver,) it's obvious by now the OCIF has done a terrible job, never thinking about the consequences of her actions, never behaving in a responsible and professional manner.
And I don't want to get into the complete lack of information since the bank was closed, we had to wait a year for the useless Receiver to come out of hibernation just to end up telling us that the funds are still stuck in Novo bank, and if Novo releases the funds then he will send us a liquidation report where supposedly we will learn about his master plan to return the funds, and if we will end up getting all our money back after he is done charging his fees.

I hope everything that has happened is made public. Unfortunately we are victims at the mercy of the decisions made by the Commissioner and the Receiver, which have been a total disaster, so even though there's nothing that we have been able to do up to now, we have to do our best to protect others by informing them of the risks involved when you open an account in the jurisdiction of Puerto Rico, FUBAR.

Once again Peter, thank you for taking the time, at least I hope you get some money from 60 Minutes Australia.
I do wish you could have also filed a lawsuit against the OCIF, even if the chances of winning such a case in a Puerto Rican court would've been very slim, but just the publicity of it would have been well worth it.

Few more weeks and we will know more, I truly hope everybody, opt-in and opt-out customers, get all their money back before this year is over.

I find it insulting that a new guy in this thread has said that all of us who opened an account at EPB did it to launder money and evade taxes. I feel tempted to upload my tax returns so you see that many of us are not so "naive" to think that when you open an offshore account you can just ignore one of the very few things that are certain about this world that we live in, and that is having to pay taxes in your country of residency.
And I would like to add that I've had bank accounts at UBS, Couts&Co, Bank of America, Chase, BBVA, and Barclay's Bank and the KYC that I had to go through to open an account at EPB was arguably one of the strictest I've gone through. And after a few years of having the account at EPB I wanted to add my wife to the account in case something ever happened to me, and I almost gave up as EPB kept asking for documentation, I also had to send information of my wife's employer, it was more documentation than any other bank has ever required in order to just add my wife to an existing account.
At some point I also had a company account, it took me 2 months to open the account.
I also had a brokerage account, so those of us who had that type of account know that we had to submit a CRS form before being able to start trading, and that's just a fact.
I know for sure there are many other banks in the world that will not hesitate to open an account with a fraction of the documents, and let's not talk about all the EMIs where you can currently open an account, some without even sending a copy of your passport. And of course let's not get into all the exchanges where you can hide your crypto, a perfect paradise for scammers and all kinds of criminals.
So to come here and say that EPB was this and that when it came to opening an account is just FALSE.

Final words, if things don't get solved, meaning if the OCIF and the Receiver keep delaying things without having a proper reason beyond their control, I will happily join other customers to try to go after OCIF, as far as I'm concerned we are where we are because of the actions and irresponsible conduct of OCIF, in particular the Commissioner Natalia Zequeira Diaz.
And even though I'm sure she was pressured by the J5 to close the bank, there is no doubt in my mind that she could have easily allowed Peter to liquidate the bank without the need of appointing a Receiver, and without giving a press conference full of innuendos and false accusations that resulted in the freeze by Novo bank. And here we are still paying the price, I hope you are listening Natalia Zequeira Diaz, you should apologize and resign immediately!! You're to blame for everything that's happened!! What you throw into the fire becomes fuel for the fire, that's exactly what you've done stupid girl!

All that I've done during these months is work to take care of my family, no holidays, no going to the movies or going out for dinner, nothing whatsoever, but I don't regret banking at EuroPacific Bank, the bank was great, customer service was excellent, the bank offered a very wide selection of investments, precious metals accounts, mutual funds, multi currency accounts, prepaid cards, and a brokerage account linked to Interactive Brokers, what else would you want from a bank? The bank had everything, it was perfect! And a full-reserve bank!
Unfortunately I never anticipated that a Regulator would work against the customers. I've had accounts with different banks that ended up getting closed and in all those cases the Regulator made sure that the failed bank was sold to a more solid institution, I never lost access to my money, not even for 1 minute.

And I find it ludicrous to suggest that EPB should've been making sure that customers were paying their taxes back home, WTF?, No bank does that. You are the only one responsible for paying your taxes, and if you don't want to pay taxes that's fine with me, just move to Dubai or any other jurisdiction where you can legally avoid paying taxes.

I hope at some point we can all direct our hate towards the OCIF and if needed take legal action. I'm sure Peter will be more than willing to help us.
Hopefully we will get all our money back during the next months and this ordeal will stay as another lesson, that's life, an eternal classroom.
My main worry is Novo bank, who knows what they've done with the money, but if Novo releases the fund this battle will be over very soon.

And to all the haters, specially those that don't even have an account, go waste your time in Twitter, that's the perfect place for you to waste your life hating 24/7.
 
Radko and Spartan, you are thanking the person that scammed you out of your money. You have some sort of emotional attachment to Peter Schiff that is preventing you from seeing the truth. He is the reason the bank failed.

Peter blamed it on his political views but in reality the reason is because he used customer money for operating expenses and it was easy for criminals and tax cheats to open accounts. That doesn't mean everyone that had an account was a criminal or tax cheat, it just means several were.

Do you really believe the OCIF is gonna shutdown his bank because of his political stance? That is just a convenient excuse. It's the same excuse Peter used when his father was thrown in prison...he's a "political prisoner."
 
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Some of you, specially the haters, should really try to talk to the Commissioner of the OCIF. You should ask her a number of questions, like:
"Why did she really close the bank?"
"Why didn't she allow the sale of the bank to Qenta?"
"Why didn't she allow Peter to inject more capital into the bank, and liquidate the bank himself?"
"Why did you have to appoint a Receiver, a Receiver with obviously zero experience?"
"Why did you give a press conference which resulted in the freeze of EPB accounts by the correspondent bank, and why did you say things during the press conference that turned out to be false?"
It's been more than a Year since the bank was closed, customers haven't seen a penny of their money, "is this what you call protecting the interest of the customers, shouldn't that be the priority of the Commissioner?"
This is the way! :cool:
@Radko knows how to bank!

Thank you for sharing!

Commissioner Natalia Zequeira Diaz.
The attack vector is to sue her OUTSIDE of her jurisdiction! As long as she and the receiver can use "state coffers/taxpayers' money" to defend themselves, nothing will happen and they won't feel or be bothered with a thing.

Speak to a litigator familiar with the style of Joe Jamail.
 
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Peter, I thank you for taking the time to explain everything that has happened so clearly. I don't think you need to say anything else, obviously some people are here to hate, sadly this forum is not immune to haters either, they are everywhere these days.

Some of you, specially the haters, should really try to talk to the Commissioner of the OCIF. You should ask her a number of questions, like:
"Why did she really close the bank?"
"Why didn't she allow the sale of the bank to Qenta?"
"Why didn't she allow Peter to inject more capital into the bank, and liquidate the bank himself?"
"Why did you have to appoint a Receiver, a Receiver with obviously zero experience?"
"Why did you give a press conference which resulted in the freeze of EPB accounts by the correspondent bank, and why did you say things during the press conference that turned out to be false?"
It's been more than a Year since the bank was closed, customers haven't seen a penny of their money, "is this what you call protecting the interest of the customers, shouldn't that be the priority of the Commissioner?"

Until these questions are answered no one should blame Peter for anything that's happened, no I'm not defending anybody, I'm just not a hater (although as time has gone by I have developed a decent amount of hate towards the OCIF and the Receiver,) it's obvious by now the OCIF has done a terrible job, never thinking about the consequences of her actions, never behaving in a responsible and professional manner.
And I don't want to get into the complete lack of information since the bank was closed, we had to wait a year for the useless Receiver to come out of hibernation just to end up telling us that the funds are still stuck in Novo bank, and if Novo releases the funds then he will send us a liquidation report where supposedly we will learn about his master plan to return the funds, and if we will end up getting all our money back after he is done charging his fees.

I hope everything that has happened is made public. Unfortunately we are victims at the mercy of the decisions made by the Commissioner and the Receiver, which have been a total disaster, so even though there's nothing that we have been able to do up to now, we have to do our best to protect others by informing them of the risks involved when you open an account in the jurisdiction of Puerto Rico, FUBAR.

Once again Peter, thank you for taking the time, at least I hope you get some money from 60 Minutes Australia.
I do wish you could have also filed a lawsuit against the OCIF, even if the chances of winning such a case in a Puerto Rican court would've been very slim, but just the publicity of it would have been well worth it.

Few more weeks and we will know more, I truly hope everybody, opt-in and opt-out customers, get all their money back before this year is over.

I find it insulting that a new guy in this thread has said that all of us who opened an account at EPB did it to launder money and evade taxes. I feel tempted to upload my tax returns so you see that many of us are not so "naive" to think that when you open an offshore account you can just ignore one of the very few things that are certain about this world that we live in, and that is having to pay taxes in your country of residency.
And I would like to add that I've had bank accounts at UBS, Couts&Co, Bank of America, Chase, BBVA, and Barclay's Bank and the KYC that I had to go through to open an account at EPB was arguably one of the strictest I've gone through. And after a few years of having the account at EPB I wanted to add my wife to the account in case something ever happened to me, and I almost gave up as EPB kept asking for documentation, I also had to send information of my wife's employer, it was more documentation than any other bank has ever required in order to just add my wife to an existing account.
At some point I also had a company account, it took me 2 months to open the account.
I also had a brokerage account, so those of us who had that type of account know that we had to submit a CRS form before being able to start trading, and that's just a fact.
I know for sure there are many other banks in the world that will not hesitate to open an account with a fraction of the documents, and let's not talk about all the EMIs where you can currently open an account, some without even sending a copy of your passport. And of course let's not get into all the exchanges where you can hide your crypto, a perfect paradise for scammers and all kinds of criminals.
So to come here and say that EPB was this and that when it came to opening an account is just FALSE.

Final words, if things don't get solved, meaning if the OCIF and the Receiver keep delaying things without having a proper reason beyond their control, I will happily join other customers to try to go after OCIF, as far as I'm concerned we are where we are because of the actions and irresponsible conduct of OCIF, in particular the Commissioner Natalia Zequeira Diaz.
And even though I'm sure she was pressured by the J5 to close the bank, there is no doubt in my mind that she could have easily allowed Peter to liquidate the bank without the need of appointing a Receiver, and without giving a press conference full of innuendos and false accusations that resulted in the freeze by Novo bank. And here we are still paying the price, I hope you are listening Natalia Zequeira Diaz, you should apologize and resign immediately!! You're to blame for everything that's happened!! What you throw into the fire becomes fuel for the fire, that's exactly what you've done stupid girl!

All that I've done during these months is work to take care of my family, no holidays, no going to the movies or going out for dinner, nothing whatsoever, but I don't regret banking at EuroPacific Bank, the bank was great, customer service was excellent, the bank offered a very wide selection of investments, precious metals accounts, mutual funds, multi currency accounts, prepaid cards, and a brokerage account linked to Interactive Brokers, what else would you want from a bank? The bank had everything, it was perfect! And a full-reserve bank!
Unfortunately I never anticipated that a Regulator would work against the customers. I've had accounts with different banks that ended up getting closed and in all those cases the Regulator made sure that the failed bank was sold to a more solid institution, I never lost access to my money, not even for 1 minute.

And I find it ludicrous to suggest that EPB should've been making sure that customers were paying their taxes back home, WTF?, No bank does that. You are the only one responsible for paying your taxes, and if you don't want to pay taxes that's fine with me, just move to Dubai or any other jurisdiction where you can legally avoid paying taxes.

I hope at some point we can all direct our hate towards the OCIF and if needed take legal action. I'm sure Peter will be more than willing to help us.
Hopefully we will get all our money back during the next months and this ordeal will stay as another lesson, that's life, an eternal classroom.
My main worry is Novo bank, who knows what they've done with the money, but if Novo releases the fund this battle will be over very soon.

And to all the haters, specially those that don't even have an account, go waste your time in Twitter, that's the perfect place for you to waste your life hating 24/7.
Thanks. Yes the Commissioner obviously had a reason for the action that she took. I have a good idea what it is, but I'm not allowed to disparage OCIF. I gave up that right as I was told it would result in customers getting their money back quicker. What you wrote about the bank'a compliance is great. Would you be willing to put that in an affidavit that I can use for my lawsuit in Australia. It would be very helpful. If so, email [email protected]
 
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Thanks. Yes the Commissioner obviously had a reason for the action that she took. I have a good idea what it is, but I'm not allowed to disparage OCIF. I gave up that right as I was told it would result in customers getting their money back quicker. What you wrote about the bank'a compliance is great. Would you be willing to put that in an affidavit that I can use for my lawsuit in Australia. It would be very helpful. If so, email [email protected]

Sure Peter, I'll be happy to help. I'll send an email to that email address.
 
Radko and Spartan, you are thanking the person that scammed you out of your money. You have some sort of emotional attachment to Peter Schiff that is preventing you from seeing the truth. He is the reason the bank failed.

Peter blamed it on his political views but in reality the reason is because he used customer money for operating expenses and it was easy for criminals and tax cheats to open accounts. That doesn't mean everyone that had an account was a criminal or tax cheat, it just means several were.

Do you really believe the OCIF is gonna shutdown his bank because of his political stance? That is just a convenient excuse. It's the same excuse Peter used when his father was thrown in prison...he's a "political prisoner."
Using customer money for operating expenses was not a reason given by OCIF for shutting down the bank. He was not mentioned once after the bank's audit or once in the agreement to liquidate the bank. You are just a liar making stuff up because you have some kind of grudge against me. You should be banned from this board.
 
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Please everybody: neither any laments nor accusations bring us forth.

My current strategy after writing many mails around…:
I am denouncing the person, who recommended clearly to me EPB, attempting a fraud - hoping he can fully be identified.

I am curious about lawyers and I will support you somehow. Maybe we can work together in an honest way after finding an authentic lawyer:
I cannot take the risk of losing any more money as a nice part of my net worth has been taken so far.
Many others are in similar and worse situations. I feel with you.

Could everybody who could easily afford such legal actions help us, e.g. the biggest losers as me pay only in case of success? I would definitely share 10-30% of my potential funds once they are returned (full??).

@Pschiff you are superrich: Why do you spend time here after losing basically nothing? Are you really interested in helping us? You never answered our questions concerning the lawyer‘s names etc. We just read your redundant words except from one single file you once sent.
Can you be truly kind and really philanthropic while telling you lost 25mio - a ridiculous part of your net worth, while others are losing their homes?
I hate making mistakes, but I love correcting them.
 
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Sure Peter, I'll be happy to help. I'll send an email to that email address.
Did you send your email yet? If so we haven't received it.

Please everybody: neither any laments nor accusations bring us forth.

My current strategy after writing many mails around…:
I am denouncing the person, who recommended clearly to me EPB, attempting a fraud - hoping he can fully be identified.

I am curious about lawyers and I will support you somehow. Maybe we can work together in an honest way after finding an authentic lawyer:
I cannot take the risk of losing any more money as a nice part of my net worth has been taken so far.
Many others are in similar and worse situations. I feel with you.

Could everybody who could easily afford such legal actions help us, e.g. the biggest losers as me pay only in case of success? I would definitely share 10-30% of my potential funds once they are returned (full??).

@Pschiff you are superrich: Why do you spend time here after losing basically nothing? Are you really interested in helping us? You never answered our questions concerning the lawyer‘s names etc. We just read your redundant words except from one single file you once sent.
Can you be truly kind and really philanthropic while telling you lost 25mio - a ridiculous part of your net worth, while others are losing their homes?
I hate making mistakes, but I love correcting them.
$25 million in hardly an insignificant part of my net worth. I'm sure I lost a larger part of my net worth than the vast majority of bank customers. As i've written there is nothing I can do. I have as much control over the bank as any one of you on this board. As I learn anything I let everyone know.
 
Things appear to be more happening behind the scenes at the moment - as always - rather than transparency as it should be.

If opt-out customers want to protect their interests they are going to have to be more proactive.
 
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