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Dear Investor:
As an investor in insured certificates of deposit (CDs), you should know there is a proposed government ruling that would effectively prevent you from participating in the insured CD market currently available to you through Hargrove Investment.
This proposal, known as the “Doggett Rule,” has been initiated by the Federal Deposit Insurance Corporation (FDIC) and the Federal Home Loan Bank Board (FHLBB) to address certain problems in the financial marketplace. Unfortunately, the rule as it is currently written is far too broad.
We encourage you to take the time to write, call, or telegram your congressional representatives today to let them know of your opposition to this rule. The enclosed directory lists their names and mailing addresses.
The enclosed fact sheet will explain the problems this proposed ruling was intended to address and why we believe it penalizes you unfairly. It is important you read this fact sheet carefully because you can do something about the “Doggett Rule.” There is a comment period during which your senators and representatives can work to see this ruling does not take effect.
Don’t allow your rights as an individual investor to be curbed. We urge you to communicate with your congressional representatives today.
Sincerely,
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