• Report: #499643
Complaint Review:

Kevin Kabat CEO

  • Submitted: Thu, September 24, 2009
  • Updated: Thu, September 24, 2009

  • Reported By: Kc — Clearwater Beach Florida USA
Kevin Kabat CEO
9125 Broken Sound Lane ( Home Address) Cinncinati, Ohio United States of America
  • Phone: 5133588301
  • Web:
  • Category: Banks

Kevin Kabat CEO 5/3 bank - How Kevin Kabat makes 10 million a year. Ripping off Bank Customers Cinncinati, Ohio

*Consumer Comment: responsibility

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As a 5/3bank customer you can not get a hold of this man via telephone. You know to help you fix an issue - nobody else in customer service has been able to... anyway I think I may know why. 5/3 customers in the form of bank profits have paid this man 10 million dollars last year including $29,000 and change for his Country Club membership dues. So he can walk around and hit a little ball with a club in a hole.

Source of info: http://www.mlive.com/business/index.ssf/2008/02/kevin_kabats_pay_hits_10_milli.html

 I could almost understand it if he was actually making 53 bank money however In January  09, Fifth Third reported fourth-quarter earnings fell 42 percent from the same quarter a year before. Not exactly stellar performance.

 I'm going to assume the man works 60 hour weeks X 50 weeks or a total of 3,000 hours a year. And enjoys a two week ski vacation in Aspen once a year with his family. 10 million dollars divided by 3,000 hours = $3,333.33 per hour.... At 40 hours a week equates to $5,000.00 per hour...just to put it in all perspective.

This may also explain why 5/3 Bank is charging me somewhere around 200% per month...on an original debt of 200.00 by imposing a 39.00 late fee plus a 39.00 over the limit fee ( only because of all the fees) on my secured 300.00 5/3 bank card. On topof which is also added interest at 23%.  I actually did charge about 200.00 but now my bill is nearly 700.00 within 6 months. Over $500.00 of which are bank fees. They still have my 300.00 security savings - so actually I only used or "borrowed" 200.00 against my own money. I had an accident that put me in the hospital - lost my job etc... and am still unemployed as is 10% of America ( actually more like 17% of America if we take the REAL number) and since my amount is "so low" I do not qualify for any kind of a break or hardship program.

Instead I have to get 287 phone calls last month alone (according to my Sprint PCS statement) And over 1,000 phone calls since April of this year from the collections centers which BTW 5/3 has located in Manila, Philippines and Juarez, Mexico. Many of whom are very rude - and say that the phone calls will not stop until I pay my bill in full. The "relationship" people have my number in that computer auto dialer - and will not take it out despite my numerous requests - what they are doing is legal. Perhaps as a banker he could do some math here and calculate they have / are spending far more in their employees calling me then the amount they could collect if I was even able to pay my bill in full.  I tried in vain to contact him - but was told I am not important enough to talk to him. So now I have searched the property records in Cinncinati and found his home address. I hope he will read my letter I am sending.

Cincinnati - Hamilton County property tax records show he lives in a newer ( built in 2000 ) Executive style home valued at about  2 million dollars. Located on 5 acres. 4 bedrooms - 5 full baths plus 3 1/2 baths, complete with swimming pool, etc,... located at 9125 Broken Sound Lane Cincinnati, OH 45242 USA   Google Earth this spread WOW!

Obviously, I had good intentions in getting this secured bank card to help build my credit again - but when I got whacked into the bridge in a freak accident - then lost my job etc....as a result of my extended hospitalization. Well I just don't have the funds to pay these excessive RIPOFF screw you up the rear with no Vaseline bank fees that continue to mount. 5/3 Bank doesn't care... they just want to stab and gouge you when your down...and call you over a 1000 times - NOT an exaggeration - to collect these fees. In so that, Mr. Kevin Kabat can play golf at the Country Club and make 10 million a year. I'm sure he is a nice guy, with a big fake smile dressed in $1,000 suits. But one can't helped but feel raped & ripped off here - and thus concludes my "Rip off Report. Thank you for reading.

PS. Maybe if these big corporations kept the jobs for US based companies in the USA, those of us unemployed Americans would have work and thus could pay our bills. I'm sure one could call it a "communications error" - but what does one expect when you have people from Mexico and the Philippines calling?

This report was posted on Ripoff Report on 09/24/2009 12:58 AM and is a permanent record located here: http://www.ripoffreport.com/reports/kevin-kabat-ceo/cinncinati-ohio-45242/kevin-kabat-ceo-53-bank-how-kevin-kabat-makes-10-million-a-year-ripping-off-bank-cust-499643. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment


AUTHOR: Ashley - (U.S.A.)

Who cares how much their CEO makes? Most large companies have a CEO making large chunks of money.

Here's the issue: You got a credit card. You signed agreeing to the terms. Those terms included the late fee, overlimit fee, and interest rate. It is not the bank's fault you were in an accident and you lost your job. Its your responsibility to make sure that even in times of hardship you take care of obligations that you agreed too.

This is not a ripoff. You are only ripping off yourself.
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