I would be interested to see a few things before people jumped to close their accounts, mainly because all banks operate under the same jurisdiction and rules. This is what I would like to know...
-what was the process that RBC used to issue the loan.
-was there any mistakes on your part ex: mismanagement of money, careless spending,

-did you understand the contract and loan obligations
-was it settled? did RBC do anything to mitigate your loses
-did you go to RBC when you realized there was a mistake
-how did RBC, or did RBC respond to your complaints?

I'm a financial planner (not with RBC) and there is never a shortage of people willing to complain, and often they are the loudest among any group. Good service has two aspects that need to be filled in order for everything to work 1. careful planning by the institution (this time RBC) with good communication, 2. careful planning by the client and good communication.

I would be interested to see more details before anyone jumped to closing their account and moving to another bank simply because they are all run basically the same (generally speaking of course).

Thats my 2 cents, be careful of jumping on peoples stories when they are this drastic, as sometime they are pulling the wool over the general publics eyes simply to fulfill their sense of being misled when in actuality there may be some mutual blame to be handed around.

Att: RBC Bank President Gordon Nixon - Salary - 11.73 Million!!
$100,000 - MISTAKE (FISHERMEN'S LOAN)
I'm a commercial fisherman fighting the Royal Bank of Canada(RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC account.
Website http://www.corporatebully.ca

YouTube http://www.youtube.com/CORPORATEBULLY

There is no monthly interest payment date on the contract.
Date of first installment payment, (Principal + interest) is approximately 1 year from the signing of my contract.
Demand loan contracts signed by other fishermen around the same time showed a monthly interest payment date on their contract,(agreement).
The lending policy did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
Only problem is the loans officer was a replacement who wasn't familiar with these type of loans. She never informed me verbally or in writing about this new criteria.
Phone or e-mail:
RBC President, Gordon Nixon, Toronto (416)974-6415

RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821

RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mailto:greg.grice@rbc.com

RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600

RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mailto:brian.conway@rbc.com

RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mailto:tammy.holland@rbc.com

RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mailto:beja.rodeck@rbc.com

RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mailto:ombudsman@rbc.com

Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mailto:ombudsman@obsi.ca

I closed my account aloooong time ago with this bank. $100.00 service fee (at once), might have done the trick.

I don't think I'll promote closing down RBC accounts.. however your story is interesting.

How was the $100,000 a mistake.. did you sign documents?

Tell us more so that we avoid making the same mistake .

Att: RBC Bank President Gordon Nixon - Salary - 11.73 Million!!

$100,000 MISTAKE - (FISHERMEN'S LOAN)

I'm a commercial fisherman fighting the Royal Bank of Canada,(RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC account.
Website http://www.corporatebully.ca

YouTube http://www.youtube.com/CORPORATEBULLY