FDIC settles with AL Amerilife over product insurance - Tampa Bay Business Journal:

http://www.kids.gsmbank.pl/user_detail.php?u=eageldvaste
Amerilife neither admitted nor denied any liabilityg in agreeing to the issuance of the therelease said. Amerilife, an insurance companty that nationwide markets and selld insurance and financial products such as advertisedabove market-rate certificates of deposits in 80 newspapers Amerilife generated customers lists with informatio n from those who responded to the ads in ordee to later contact the consumers and try to sell them uninsureds annuities, the FDIC said.
According to the Amerilife CD ads promised an interest rate higher than rateds offered byany bank, and prominently displayed the FDIC logo and giving the impression Amerilife was an insured When a consumer went into an Amerilife office to purchases the advertised CD, Amerilife helped the consumer sign up for the CD on a bank’ss Web site. Amerilife then forwarded a bonus paymentg plusthe consumer’s check to the bank as the CD The total amount created the rate of return advertised by but the advertisements misrepresented the actual terms and conditionas under which the bank offered the insured CDs, the FDIC