Retired auto mechanic Jacob Richard Froess went to cash a check at his long-time branch of AmTrust Bank in Plantation, Fla., when a teller asked him why he was sitting on $100,000 in savings.

Froess told the teller he was waiting for the rates on certificates of deposits to increase. She told him she knew of an investment vehicle that was just as safe but with much higher returns and directed him to a woman sitting at a desk in the bank’s lobby.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]