Hello & Thank You...

  The incidental exemption, or enrolling activity by the banks, is actually quite massive...

 Estimates are 2 million dollars a year per bank to administer, with a 20 million dollar profit per year...

 This is for the incidental enrolling...

 So the banks ARE selling insurance...

 That little afterthought exemption took $3,000.00 dollars out of my pocket...During the worst decade of my self-employed business life...

 There are probably tens of thousands of people like myself in Canada who were missold this exempted insurance by the bank, over the phone...

 Once you say yes over the phone, the money is automatically taken from your credit card without another word or any signed confirmation at all...

 Statistics on insurance state quite factually that in insurance "enrollment", the vast majority, over 90 per cent, of people who say yes to an insurance policy over the phone, do not or are not able to read or thoroughly understand/comprehend any written documentation that may or may not appear 10 days later in the mail...People who can say yes over the phone are not necessarily qualified to read or give informed consent to complicated & obfuscatory written insurance policies...

I have been through the entire ombudsprocess with the agencies mentioned...I have also attempted to use other intervention with other agencies not mentioned below...

 The insurance industry is making HUGE money on balance protection insurance...

As are the banks...

 Which is why I have not gotten my money back yet...They don't want to give it back...Even though they know that it is wrong...

 They all know they have taken money wrongly...But they are hurting too, so they have turned a blind eye...

 I have been in touch with a major Class Action law firm here in Canada...

 They are looking into a Class Action lawsuit against all the banks in Canada who have sold balance protection insurance...

 In The States & England this has happened already & ALL people sold a policy by a bank are getting a refund...ALL...ALL people who have EVER been sold a policy on a credit card by a bank...

 That is how bad this is...

Canada is the last country to correct this wrong...

It should be our government who initiates this action...Not a law firm...

But our government has been slow to act, because they are in bed with the banks...

The answers below sound good don't they?

But they are meaningless when one person attempts to jump through those hoops...

The incidental exemption is key...

Legislation is only regulating licensed insurers...

Nothing about the banks...

That is the loophole...It is a giant black hole loophole...


Sincerely, Sari Grove
grovecanada.ca
 
 

A little story:
Real Estate: A guy sells his house for $450K...Another guy goes to the bank to borrow the $450K to buy the first guy's house...The guy who goes to borrow the $450K from the bank lies about his income in the "stated income" spot on the application form...A third guy, the loan officer approves the loan at the $450K for the house...
  Seller takes the $450K & runs with it...Guy moves into the house, makes payments for 2 years, then lets the bank foreclose on the house...Guy who bought house actually makes $25K a year income...Payments for the two years to the bank equal say $75K before the buyer of the house defaults on his mortgage...When bank forecloses on the house, it is discovered that the true appraised value of the house is only 250K, 200K less than what the bank paid out when the house was bought...Say bank sells the house at $250K, the bank has lost exactly $200K on that, minus the $75K the guy paid into the mortgage before defaulting...
  So the bank has lost $125K total...Where did that money go? Well, let's say the seller guy, the buyer guy, & the loan officer were all in cahoots, & so they split that money three ways...What's $125K divided by 3? About 40 grand each...Actually, it is $41.666 K ...each... The real estate broker doesn't care because they make their money by elevating the price off the top & taking their commission, so the house probably went for over $500K or so to pay the broker...Now if you add a fourth person, the broker, the per house take is smaller of course, per person...If one of those guys was innocent, the per house per person take is more...
  Take your pick...That is how the banks got bankrupted...


BTW, for the first 2 & 1/2 years after Td Visa signed me up for credit protection insurance (misnamed balance protection by TD), I didn't carry a balance, so really had no idea this thing was there at all...(it only shows on statements if you carry)...


http://www.millsandmills.ca/lawyers/MacDonald-Raymond-Toronto-lawyer.html Legal Shield PPL

The pictures below are hard to read...What else would you expect from a bank or insurance company who you are suing? That's ok...read the captions under the pictures which explain where Td bank & Td Insurance are wrong...The product in question is a large group insurance policy, bought from an underwriter, converted into tiny little chunks, then sold by the bank through their credit card activation services when you call to activate a credit card...It is called balance protection & it is illegal in Canada in so many different ways, I don't even know where to start...
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Notice if you can read the words "group policy"... This indicates Td Insurance took a group policy, split it up, & individuals were charged individual policy rates which are much higher...This is illegal by the way...
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The first comment states that clearly accepting an insurance policy forms an oral contract...That is not true...A policy can be accepted by the client without INFORMED CONSENT being established...Just because you said yes doesn't mean that the legal requirement for informed consent was reached which is written into the Canadian Federal Insurance Act... 2)The second comment states that all benefits were outlined to the client...However, EXCLUSIONS were not mentioned in the "oral contract"... 3)The third comment merely states that TD Insurance SENT the written documents...There is no record of the client RECEIVING the written documents... 4) The last comment states that the insurance was written on the client's credit card statements from Td Visa...But in the next picture one can see that word INSURANCE does not appear on the statements at all...merely the words "balance protection (incl. tax)" which could mean any bank or credit card fee...
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Ok, so here's the statement from Td Visa credit card July 07,2011 where we first caught the unauthorized charges...We pay From Scotiabank, not to...That thing that says Balance Protection (Incl. Tax) is insurance that a self-employed person cannot qualify for to make a claim...I was sold this without them telling me at the time of sale that a self-employed person is excluded...Would you have caught this charge? They asked me how I didn't see the charge, in an accusatory manner...My answer: Do you really think I wanted to pay , to over pay my credit card bill from month to month, for years & years, for something I could not use???? For the record, maybe if they had written the word INSURANCE on the statement I might have seen it or known what exactly it was...WE thought it was a banking fee...I guess it was a banking fee...Essentially it doubles the bank's revenue...Without the bank having to do much of anything...Liars...
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$75.00 Paid down to TD Visa... $47.37 of that goes to Balance Protection that a self-employed person cannot make a claim for... Seems a little much doesn't it...?
People who have said no to a refund so far in writing:  Indra Satram associate manager TD Insurance, Michael Castonguay underwriter for Td Insurance from Assurant Solutions/ABLAC/American Bankers Assurance Company of Florida, Michael Brunette vp customer service Td Insurance...The first on paper, the second by email, the third on paper...Not in that order...






It's a JOKE: 
Step 1:Embezzlement: First, embezzle money from credit card or bank account of customer, by selling them credit insurance or credit card insurance or loan insurance that they don't need, can't use, can't make a claim for, & are excluded from in the fine print that they can't read & make sure not to tell them on the phone when you are soliciting...(this is called embezzling in plain view, like someone stealing your stuff right while you are watching, it is a mugging of sorts)...

Step 2: 
Breach contract with client by not fulfilling any claims that they make when they make a claim...Make up exclusions as you go along...Make up excuses not to fulfill claims as you go along...Point to the fine print of something they never saw...tell client how stupid client is repeatedly for not knowing they were excluded...When questioned, cry that the client is belligerent & hang up the phone or cease all communications...Give client runaround so they give up trying to get their money back...Stall...Stall until statute of limitations runs out & client can't sue...

Step 3: 
If you absolutely must give money back, but you have already sent it to your terrorist friends who are already in jail, then kite the money from the account of a relative of the client...Thereby screwing the relative of the client & giving you more satisfaction...

Conclusion: This is the experience I have had with Td Bank so far...The scam product is called Balance Protection...(Credit protection insurance is the legal term, but why would they use a legal term?)

http://www.maclennanlaw.com/Thank-You.shtml

TD Visa sold me balance protection insurance without telling me over the phone that self-employed people were excluded...I found out self-employed people were excluded 7 years later...I bought the policy under the assumption that it would cover me in the event that I could not pay my credit card balance...They told me the oral contract in the over the phone conversation is binding...But in that over the phone conversation they did not state any exclusions for the insurance policy...I consider the fact that a self-employed person cannot make a claim to be a breach of contract...I would never have said yes to something that I was pre-excluded from...According to the phone recording, since no exclusions were mentioned concerning self-employed people, I consider that the contract covered me, a self-employed person...Either this is breach of contract, or void abinitio (void abinitio means void from the beginning & rescission must be made...rescission means all monies returned to client as if false contract had not happened......Either way I want my money back...$2,684.70 plus interest...There are others who have been sold this credit protection insurance too who also thought they were covered, & were not told otherwise at the time over the phone of saying yes...Again, breach of contract or void abinitio, void from the beginning, any way you slice it, everybody sold this balance protection insurance deserves their money back...This is either small claims court for just me, or Class Action lawsuit for all the others...Not sure of best course of action, please advise...Sari Grove

http://www.mcsweeneys.net/articles/could-it-be-that-the-best-chance-to-save-a-young-family-from-foreclosure-is-a-28-year-old-pakistani-american-playright-slash-attorney-who-learned-bankruptcy-law-on-the-internet

CommentsGroveOntario

11/12/2011 12:06:00

In Canada, for example, the Criminal Code defines breach of trust as:

"Every one who, being a trustee of anything for the use or benefit, whether in whole or in part, of another person, or for a public or charitable purpose, converts, with intent to defraud and in contravention of his trust, that thing or any part of it to a use that is not authorized by the trust is guilty of an indictable offence and liable to imprisonment for a term not exceeding fourteen years."

In the case of a bank taking funds from a client's credit card, & using that money to help convicted terrorists who are already in prison in another country; that would be an example of breach of trust...

GroveToronto

11/12/2011 12:08:58

Those people who sold houses for exorbitant prices after 9/11 happened, & then left the United States...With the money...Would those people not be the terrorist's families themselves?



GroveCanada

11/12/2011 12:33:37

In fact, a telephone recording of a conversation about credit card insurance omits the recording of the customer typing in or activating their credit card itself...The fact that this part of the recording is omitted indicates a knowledge that tied in selling is illegal in Canada & the rest of the world...

Sari

11/12/2011 16:07:46

An insurance policy that disqualifies self-employed people from taking benefits is by nature discriminatory in a negative way...