E*Trade Discrimination against hispanics, harrasment against small investors, unfair treatment INTERNET

In all my years dealing with financial institutions I have never been more insulted, offended, and discriminated against by one institution ETRADE

My story starts like many of you (small investors) and during the time the market was doing great. I opened the account because part of my stock plan was done by my former employer. It just made sense to open my brokerage account but not without making my homework. That's right.. check with fees, maintenance charges, etc... At the time, everything sounded great.

Then the bubble burst... the market went done etc etc... all of the sudden Etrade starts charging me fees. I complained, and I got a very arrogant note that pretty much summed up to "shut up and take it, because the agreement says it..." At this point I am upset because I do not remember any part of the agreement that says that... but wait, it gets even worse.

I had a credit card account with them with $5000 credit limit for a long time and always payed my balance in full - I do not like to pay interest on CC's. On march 2009 I got a letter saying that they reduced my credit limit to $300. They argued that it was due to much revolving credit and delinquency accounts.

I checked my credit report and there are no delinquencies of any kind. I did get a couple of loans on another bank but it does not go to any critical amounts. One of the loans is a secure loan. Besides my credit report is 750+ and my risk level is labeled as "Med-Low Risk" right next to the "Low Risk" which is the highest you could get.

Nevertheless to say that I wanted to close the accounts. I went to the offices near my job and explained to them my discontent and my feeling of discrimination. You may ask discrimination how? I'll tell you how: Hispanic Name with (as per them) too much debt, is a dead beat MF. Even if he has payed for the last 20 years all his debts and always in time and take care of his credit. They based their decision on my name and not on my credit and that sir is discrimination and therefore completely illegal.

When they attemped to close my account they freeze $300 dollars of my brokerage account as collateral for the CC debt. NOW... Is this insulting or what? So I had it, I called them back and I am going to close all accounts with them... and yes you guess it... I will pay the $50 transfer fee... Screw it!!! $50 is not going to get them out of the freaking whole that they are in. Karma does exists in this life and whatever you dish out (good or bad) it comes back to you... so do good and be good and many good things will come back to you. Etrade will get what they deserve

Miguel
King of Prussia, Pennsylvania
U.S.A.