Why is EverBank the only bank offering foreign currency CDs?

I was trying to find the answer to this question for a while and have not been successful.

Seems that EverBank is still the only US bank offering FDIC insured CDs in foreign currencies to the retail customers, albeit at rather high markups, uncompetitive exchange rates and substandard interest rates, and has been enjoying great success (cause there’s no competition, really).

The obvious question is: what is the catch? Would wouldn’t any other bank in all of the US offer a similar service? Even HSBC that offers Forex CDs in the UK, Australia and many other countries does not offer Forex CDs in the US. Are there any regulatory complications that only EverBank was able to overcome?

Really curious to know the answer to this question.

CD or CFD (contracts for difference)?

I am talking about Certificate of Deposit (CD) or any other interest-bearing savings account at a US bank in a foreign currency. It’s a pretty obvious desire for me to open a savings account in a non-US currency (say, Australian Dollar), and as of now only EverBank is offering this kind of service at pretty steep FX conversion rates/fees.