VIDEO — Frank Trotter: New Bank with Rick Rule Coming Soon, This is Why it's Needed

Frank Trotter: New Bank with Rick Rule Coming Soon, This is Why it's Neededyoutu.be

With a long history in the banking industry, Frank Trotter knows what works and what doesn't.

Speaking to the Investing News Network, Trotter described his involvement with Mark Twain Banks in the 1980s and 1990s, as well as his role as co-founder of everBank.com, which was acquired by EverBank Financial in 2004.

Now as president of Battle Financial, he's launching Battle Bank, whose goals include fee transparency and unique offerings for customers looking for products outside the traditional banking sphere.

"When we started everBank.com 20 years ago, we looked out at the landscape and we saw most of the big banks not paying any interest, charging fees, (providing) poor customer service," he said on the sidelines of the Rule Symposium. "And what's amazing is 20 years later that's really the same."

Battle Bank's products will include high-value checking and savings products, foreign currency deposits and precious metals trading and lending services, which Trotter highlighted as particularly noteworthy.

"I think one of the unique things we'll be doing is lending against precious metals," he commented. "People like a little liquidity in their gold or silver, platinum or palladium, and there's really not a lot of options. We're excited about being able to do that in a secure way."

The board of Battle Bank includes veteran investor and speculator Rick Rule, who Trotter said is excited to see the new financial institution debut. A launch date hasn't yet been set, but a waitlist is available as Battle Bank continues to raise capital with accredited investors.

Watch the interview above for more from Trotter, or click here for the full Rule Symposium playlist on YouTube.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.