Definitely not a typical CD. The one in the article is similar to what I had, but mine invested in 4 foreign currencies. This is my second CD like this. The first one invested in 4 metals instead of currencies, and it did pay out, but much less than if I purchased the 4 different ETFs for the metals. They do return the principle, so that is the only feature that is like a typical CD. And since they return principle, I could justify the muted returns on the metals CDs. The metals CD also paid out interest in the amount of the total of all its1099-OIDs. With the currency CD, I don't understand how they knew how to populated the info on the 1099-OIDs if the investments had no return.
I will call them again, and then go to the CFPB if I get stonewalled again.
