OPES Financial Solutions, LLC

Consumer Reviews and Complaints

1. 

   Let's count all the misrepresentation (or shall

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   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: www.facebook.com/smartfinancialsolutionsbysam/ Incase you were wondering, her own website that she lists above (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: 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). 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.

   By Meda Midy

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2. 

   I don't see anything on the website

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   I don’t see anything on the website about them being a bank or financial institution. I think you should get your eyes checked.

   By Robert Weisenhorn

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