Let’s count all the misrepresentation (or shall we just call them LIES, since that’s really what they are…) by this “Vice President” of Opes Financial Solutions –
LIE#1: SAMANTHA FORD CLAIMS “Opes Financial Solutions” is a BANK/FINANCIAL INSTITUTION on the banner graphic on her FACEBOOK: https://www.facebook.com/smartfinancialsolutionsbysam/
Incase you were wondering, her own website that she lists above (http://smartfinancialsolutionsbysam.com) is blank: (how official!)
But lets get to the point of this "Bank/Financial Institution" claim on her business page:
Is that true? Is Opes a "Bank" or "Financial Institution" - Lets find out!
Definition of a BANK: A financial institution licensed as a receiver of deposits. There are two types of banks: commercial/retail banks and investment banks. In most countries, banks are regulated by the national government or central bank. (Investopedia, 2014) See: http://www.investopedia.com/terms/b/bank.asp
Since Opes does not take deposits and is not regulated by the government as a bank, Opes is NOT A BANK.
Definition of a FINANCIAL INSTITUTION: Private (shareholder-owned) or public (government-owned) organizations that, broadly speaking, act as a channel between savers and borrowers of funds (suppliers and consumers of capital). http://www.businessdictionary.com/definition/financial-institution.html#ixzz3605we4Ep (BusinessDictionary.com)
Additionally, in order to be recognized as a “Financial Institution”, an organization must adhere to and fall within one of the catagories listed in: 18 U.S. Code § 20: “A financial institution is one of the following:
(1) an insured depository institution (as defined in section 3(c)(2) of the Federal Deposit Insurance Act);
(2) a credit union with accounts insured by the National Credit Union Share Insurance Fund;
(3) a Federal home loan bank or a member, as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422), of the Federal home loan bank system;
(4) a System institution of the Farm Credit System, as defined in section 5.35(3) of the Farm Credit Act of 1971;
(5) a small business investment company, as defined in section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662);
(6) a depository institution holding company (as defined in section 3(w)(1) of the Federal Deposit Insurance Act;
(7) a Federal Reserve bank or a member bank of the Federal Reserve System;
(8) an organization operating under section 25 orsection 25(a) [1] of the Federal Reserve Act;
(9) a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978); or
(10) a mortgage lending business (as defined in section 27 of this title) or any person or entity that makes in whole or in part a federally related mortgage loan as defined in section 3 of the Real Estate Settlement Procedures Act of 1974.
OPES Financial Solutions, LLC Reviews
wrong
opes is not a financial institution, name of the company is financial solutions...
Let’s count all the misrepresentation (or shall we just call them LIES, since that’s really what they are…) by this “Vice President” of Opes Financial Solutions –
LIE#1: SAMANTHA FORD CLAIMS “Opes Financial Solutions” is a BANK/FINANCIAL INSTITUTION on the banner graphic on her FACEBOOK: https://www.facebook.com/smartfinancialsolutionsbysam/
Incase you were wondering, her own website that she lists above (http://smartfinancialsolutionsbysam.com) is blank: (how official!)
But lets get to the point of this "Bank/Financial Institution" claim on her business page:
Is that true? Is Opes a "Bank" or "Financial Institution" - Lets find out!
Definition of a BANK: A financial institution licensed as a receiver of deposits. There are two types of banks: commercial/retail banks and investment banks. In most countries, banks are regulated by the national government or central bank. (Investopedia, 2014) See: http://www.investopedia.com/terms/b/bank.asp
Since Opes does not take deposits and is not regulated by the government as a bank, Opes is NOT A BANK.
Definition of a FINANCIAL INSTITUTION: Private (shareholder-owned) or public (government-owned) organizations that, broadly speaking, act as a channel between savers and borrowers of funds (suppliers and consumers of capital). http://www.businessdictionary.com/definition/financial-institution.html#ixzz3605we4Ep (BusinessDictionary.com)
Additionally, in order to be recognized as a “Financial Institution”, an organization must adhere to and fall within one of the catagories listed in: 18 U.S. Code § 20: “A financial institution is one of the following:
(1) an insured depository institution (as defined in section 3(c)(2) of the Federal Deposit Insurance Act);
(2) a credit union with accounts insured by the National Credit Union Share Insurance Fund;
(3) a Federal home loan bank or a member, as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422), of the Federal home loan bank system;
(4) a System institution of the Farm Credit System, as defined in section 5.35(3) of the Farm Credit Act of 1971;
(5) a small business investment company, as defined in section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662);
(6) a depository institution holding company (as defined in section 3(w)(1) of the Federal Deposit Insurance Act;
(7) a Federal Reserve bank or a member bank of the Federal Reserve System;
(8) an organization operating under section 25 orsection 25(a) [1] of the Federal Reserve Act;
(9) a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978); or
(10) a mortgage lending business (as defined in section 27 of this title) or any person or entity that makes in whole or in part a federally related mortgage loan as defined in section 3 of the Real Estate Settlement Procedures Act of 1974.
Bad post
I don't see anything on the website about them being a bank or financial institution. I think you should get your eyes checked.