Canopy Financial froze my Shawnee Health Savings Account Internet

GREED, TRICKERY, EVIL, DEEP CORRUPTION, & the CONSTANT PURSUIT TO FINANCIALLY INJURE THE INNOCENT PEOPLE LIVING HERE, & ALL OVER THE WORLD.

A group of us are up on Facebook, just search for Canopy Financial.

There's a piece out in the WSJ blogs this evening title "Once Flying High, Canopy Financial Now Peddling Assets For $6.1M." There's also a class action lawsuit that's already been filed against Amcore and an informational e-mail sent out by the Shawnee Financial Administrator to customers.

The WSJ piece includes this: "Canopy subsequently filed for Chapter 11 bankruptcy. New details also emerged last week that funds from health savings accounts Canopy worked with, either through certain customers or on its own, were frozen after they were either misappropriated or missing. Customers of those health savings accounts will now be named creditors during Canopys bankruptcy proceedings."

If you're a victim, it might be worth joining Facebook just to add the group "Canopy Financial HSA Fraud Discussion."

Andrew Cuomo in New York, ASAP! He's New York's Attorney General, and he's one of the few people in the USA who is truly 'for' the American PEOPLE. Simply 'Google' this- ANDREW CUOMO, and you can get his contact info.

Seems the debit card is serviced by UMB but the Bank that has the funds is called Amcore Bank, and should be FDIC insured through them.

Another victim has opened a Facebook group titled Canopy Financial HSA Fraud Discussion.

I am a victim with a very similar story. We have been in touch with the Shawnee administrator. He seemed confused also, and said he had hired legal help to look into it. He says Shawnee is the "number two" creditor on the list and that he is a personal victim as well. I hope our interests coincide. We have told Shawnee that they would be wise to make contact with their customers via bulk e-mail ASAP.

We've been able to print off all of our Shawnee statements and they all state "Deposit insured by FDIC..." Even if that's accurate, the insurance may only extend to bank failure, not fraud.

I did call UMB today, the bank listed on the back of our debit card. The very friendly young phone rep could go right into our account and tell us the exact amount it "contains," once I provided the necessary identification.

However, he said that UMB was simply servicing the card. No, I can't withdraw anything from it through UMB. He could offer me a phone number contact for... Canopy Financial.

I told him politely that his bank might be interested in learning about this, since at the least it doesn't reflect well on them. At the moment, it appears that our best hope would be Shawnee pursuing on behalf of all of us.

Any and all suggestions are welcome.

I am in a similar position with respect to a Shawnee HSA account.  From the web, I learned there is a class action suit filed by a Shawnee HSA account holder,  but it is against Amcore Financial, the bank that served as custodian of the Shawnee HSA funds.  Here is a link to the lawsuit.  Let's hope our accounts were FDIC insured.

http://www.courthousenews.com/2009/12/17/Amcore.pdf

As you learned, Shawnee Administrative Services, LLC is an administrator which apparently used the Canopy Financial software to administer your HSA. Canopy is under federal investigation and bankruptcy proceedings as a result of improprieties by certain executives, who allegedly stole money from HSAs at certain banks, among other things. I think if you review your account documents you will find that the bank where your funds were held is probably UMB since they issued the debit card. The Canopy Financial software basically does the bookkeeping for the HSAs administered by Shawnee and I'm guessing custodied by UMB.  The Shawnee Bank to which you refer is probably a completely different company that has nothing to do with your issue. However, UMB is a reputable bank and an authorized HSA custodian. They probably have your funds but they are likely held in a collective account with all the other Shawnee HSAs, and due to the Canopy problem, there is probably difficulty identifying how much was in your particular account and whether or not the dollars exist in the collective account to pay you. I believe from reports on the Internet that the FBI is responsible for freezing the accounts to sort things out. You should review all of your HSA account documents to verify that your funds are indeed at UMB. If they are, they are likely FDIC insured. If your funds are at UMB or some other bank, you should probably call that bank. As the custodian of the HSA funds, they have certain obligations to you, and letting you know where your money is is on is one of them. Frankly, no bank is going to offer a 4.25%APY on an HSA unless that rate is being subsidized by some other fee. I would take a look at HSA Bank if you will be looking for an HSA custodian that is a FDIC insured bank and keeps your money in your own individual account. Good luck.