precedent: failure to disclose, TD bank, fraud…

precedent: failure to disclose, TD bank, fraud…

From:
“Joseph & Sari Grove” <grovecanada@fastmail.fm>
To:
“Td Ombudsman” <td.ombudsman@td.com>, “Financial Consumer Agency of Canada” <info@fcac-acfc.gc.ca>, “FSCO” <contactcentre@fsco.gov.on.ca>
Date:
Tue, 25 Oct 2011 10:39 AM (less than a minute ago)
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Hello,

  I am still trying to get a refund of $2,684.70 plus interest from TD Visa on Balance Protection Insurance…

 I am adding an excerpt from a previously decided case that applies to my own:
 The reason the client was given a full refund on all premiums taken for balance protection insurance is that the client was self-employed, like I am, (& that fact is clearly written on my credit card agreement…)
  At no time, in the over the phone conversation was I told that a self-employed person would Not qualify for the majority of the benefits of this policy…Had I known this, I most likely would NOT have agreed to this policy…In case precedents, it is not sufficient that a mention of exclusions exist buried in wirtten documents, but that the fact that a self-employed person is Excluded from benefits be drawn to that person’s attention when the policy is being sold over the phone…
  I consider it abhorrent that a policy excluding a self-employed person was sold to me & that I was not told of this exclusion over the phone when you signed me up…It is further abhorrent that TD Bank, TD Insurance, & TD Visa, does not admit they wrongfully sold a policy while failing to disclose material facts about the insurance, in such a way that can be deemed fraudulent…
  In  many, many, documented cases, published online, clients are repeatedly shown to have been sold balance protection insurance, without ever being able to qualify to make a claim…These are the self-employed, the disabled, students, retired people, seasonal workers, part-time workers & the list goes on…The fact that so many people were not told that they would be excluded from making a future claim, indicates more than merely a failure to disclose on the part of the insurer, it indicates a willful act of lying by omission in a grand scheme, on a large scale, & where signifanct monies have been taken with unfair business practice from clients, in a manner consistent with large scale fraud…
 As such, I repeat my request for a full refund to my credit card…
Sari Grove
grove@sent.com
416-924-9725
grovecanada.ca

one of the excerpted examples of a self-employed person getting their refund: “In these circumstances, the financial business should have drawn the term to the attention of Mr D when providing information about the policy. The term was not highlighted in the policy summary – it simply referred Mr D to the longer policy document where the term could be found mid way through a 20-page document.

We did not consider that this gave the term sufficient prominence. We decided that if the term had been drawn to Mr D’s attention, he would probably not have taken out the policy. It was unlikely that he would be able to claim under the policy for the most likely cause of future unemployment.

We told the financial business to put Mr D in the position he would have been in, if he had not taken out the policy, by reconstructing his credit card account.”

About GroveCanada

Artist Statement: I like to push...Push the fold...Innovate...Figure out how to do something then figure out how to do it even better...I get bored once I accomplish something...I can’t seem to make multiples...Once it is done, it is done ; I am not going to make another one...This can hurt profitability...But I feel the paradigm of repetitive production is obsolete...I see a future where pure intellectual innovation will be rewarded without the need to commercialize it somehow...I wonder about the Star Trek idea of a new culture where money is not the driving force...I live that future already... Bio: Sari is an optimist by nature, someone who always sees the sunny side of things, even if there is no sunny side really...She grew up with two wonderful parents & a great brother...Later she married the very best guy in the world, another artist named Joseph Grove...She likes art because it is for her a happy place to be...A place where joy can reside...So she decided to make art herself because that was the nicest thing she thought she could do for people’s lives...I’d tell you more about angst or strife or misery or struggling, but really, that was not the case...But perhaps, because I am Sari ; I am writing this, my perception is warped by my extreme positivity...But, to tell you the truth, life has been good... p.s.You can read more about my credentials on my main website at http://www.grovecanada.ca ...But I have left a few things out, credential-wise... My feeling is:"By their fruits, ye shall know them" which is from the New Testament, Book of Mathew(7, 16-20)... So read my books ; see if the fruit tastes good to you...I feel those are better credentials than telling you something on a resume... p.p.s. I am a Christian...Whatever that word means to you...
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