Goodman & Nekvasil, P.A., May Recover Investor Losses – Do you have losses in Callable CDs?
According to the SEC a Callable CD is a CD in which the issuing bank the right to terminate – or “call” – the CD after a set period of time, but they do not give the CD holder the same right. If interest rates fall, the issuing bank might call the CD.
There are Risks Associated with Callable CDs According to Bankrate:
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The CD may be called early
Callable CDs pay a higher interest rate because they come with a higher level of risk. That is why professor and certified financial planner Brandon Renfro doesn’t necessarily recommend callable CDs to new investors. “For novice investors, callable CDs add a layer of complexity that isn’t usually necessary,” Renfro says. “If the CD is called, you’ll have to shop around for another CD, and it will likely be at a lower rate. With a non-callable CD, you don’t have that unexpected hassle.”
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Less liquid
Just like traditional CDs, there is some risk if you don’t keep the account open until maturity. If you cash out a CD before it comes due, you will likely have to pay the issuer a penalty fee.
Goodman & Nekvasil, P.A. May Recover Investor Losses on Callable Cds.
Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, continues to investigate brokerage firms that placed elderly retirees and other conservative investors in high-risk investments such as Callable Cds.
Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments such as Callable CDs and has recovered more than $180 million dollars on behalf of victimized investors. We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives. All our cases are handled on a purely contingency fee basis.
You may have the right to recover your losses from the brokerage firm that sold you Callable CDs and other high-risk investments to you. We strongly recommend that you act quickly, however, because statutes of limitation can be short in securities cases.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of these investments in any way.
If you incurred losses on your investment in Callable CDs and/or other high-risk investments and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.