The Washington State Department of Financial Institutions (DFI) has received a report of what appears to be a payday loan collection scam.  A consumer reported that they had been contacted by telephone by an entity claiming to collect debt owed to a company named National Payday. The caller stated they were from NCG Consultants and claimed there was a complaint by National Payday against the consumer for a loan. It appears that the consumer who was contacted does not actually owe money to National Payday.

The contact information associated with this entity is the phone number 580-215-6869.

This entity is not licensed by the Washington State of Department of Financial Institutions as a payday lender or by the Washington State Department of Licensing as a collection agency. 

Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.

Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers' places of employment.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

The Washington State Department of Financial Institutions (DFI) received a complaint from a Washington State consumer about what appears to be an advanced fee loan scam.  The consumer reported that he was approved for a loan via email in the amount of $1,000. The consumer was instructed to make a first payment of $134 though MoneyGram before the funds could be transferred to the consumer’s account. In total, the consumer stated he lost $1,184 in advance fees for a loan he did not receive.

The contact information associated with Capitol Cash is the phone number 206-801-6133. Capitol Cash’s true location may be outside of the United States. 

Capitol Cash is not licensed with the Department to make loans.  Capitol Cash is not registered to do business in Washington by either the Department of Revenue or the Secretary of State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

The Financial Industry Regulatory Authority (FINRA) is warning investors to be wary of stock promotions sent through popular messaging apps such as WhatsApp. The messages could be coming from fraudsters looking to trick unsuspecting investors.

Scam Details
In recent weeks, scammers have been using messaging apps to transmit spam messages that promote penny or "microcap" stocks. Recently, WhatsApp users were flooded with text messages touting Avra, Inc. (OTC: AVRN). The messages appeared to be sent from individuals at well-known brokerage firms. Using only a first name ("Hi it's Will at XYZ firm…"), the text would talk up the stock. One message claimed AVRN was "going to double in the next few days." Another said it "is going up 300% next week."

Same Scam, Different Technology
This is a variation of the pump-and-dump scam, where fraudsters use spam—in this case transmitted through the mass push feature of a messaging app—to tout a stock. The buying that follows will "pump" up the price—until the fraudsters "dump" their shares by selling them at a peak.  Once the fraudsters stop hyping the stock, the price typically falls dramatically—and investors lose their money or are left with worthless, or near worthless, stock.

Users of app messaging services should treat these messages with extreme caution. When it comes to pump-and-dump spam, the smartest play is the easiest. Don't respond—just delete.

A Washington State consumer has reported being solicited by Advantage Foreclosure LLC for a loan modification. The consumer contacted Advantage Foreclosure LLC and was offered loan modification services for $1,295 with $795 due at time the initial contract is signed. The consumer spoke with a Matt Van and was provided an agreement for services.

The addresses associated with Advantage Foreclosure LLC are 21001 N Tatum Blvd Suite 1630180, Phoenix, AZ 85050 and 1319 W Blue Field Ave, Phoenix, AZ 85023. Additional contact information associated with Advantage Foreclosure LLC is phone number 888-837-1555, fax number 480-513-1007, and email address matt@aboutmyforeclosure.com. The associated website domain is www.aboutmyforeclosure.com, and is no longer operational and presented no additional information regarding the true nature of this fraudulent entity.

Additionally, Advantage Foreclosure LLC is not licensed by the Washington State Department of Financial Institutions, nor is Advantage Foreclosure LLC registered with the Washington State Department of Revenue, the Office of the Secretary of State, or the Department of Licensing Master Business Division to do business in Washington State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

The Washington State Department of Financial Institutions received reports of what appears to be a collection scam. Several consumers report receiving emails that demand payment for debts that do not exist.

The e-mails claim that the consumers failed to repay a loan from ACE Cash Services or a company owned by ACE Cash Services.  The e-mails threaten legal action if the debt is not paid by a certain date.  The e-mails tell the consumers that they owe additional interest and penalties.  In the e-mails, the sender claims to have “traced” the consumers’ IP addresses.  The sender also claims to have “more than 14 technical evidences” of the debt. 

The consumers targeted report that they do not the owe debt being collected.  It appears that this scam is targeting consumers who applied for online payday loans in the past.   

The following e-mail addresses have been associated with this apparent scam:
acs.inc.debtcollector@gmail.com
marcus.settlementattorney@aceservicesonline.com
charles.lawenforcement@aceonlinecollection.com

ACE Cash Services is not licensed to make loans in Washington State and is not a licensed collection agency or debt buyer.  It appears that the people behind ACE Cash Services are outside of the United States.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

The Washington State Department of Financial Institutions (DFI) received a complaint from a Washington State consumer about what appears to be an unlicensed consumer loan activity.  The consumer reported that he was contacted by a Jason Payne with Lenders Services soliciting a VA mortgage loan. The consumer was asked multiple questions regarding his current loan.

The contact information associated with Lenders Services is the phone number 866-688-1923. The associated address with Lenders Services is 71 Stevenson Street Suite 400, San Francisco, CA 94105.

Lenders Services is not licensed with the Department to make loans.  Lenders Services is not registered to do business in Washington by either the Department of Revenue or the Secretary of State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

A Washington consumer reported that Veteran’s Benefit Services may be operating a loan refinancing scam.  The consumer reported that this entity contacted the consumer by phone and attempted to obtain personal information regarding the consumer’s Veteran’s Administration (VA) home loan under the pretense of providing veteran’s benefits.  The consumer noted that the entity misrepresented the nature of their business, which seems to be marketing loan refinancing programs irrespective of the consumer having a VA loan. 

The contact information for this entity provided by the consumer is:

Veteran’s Benefit Services
Phone: (509) 554-5527

Veteran’s Benefit Services is not licensed by the Washington State Department of Financial Institutions.  This entity is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

Nationwide Biweekly Administration, Inc., License #1503

SERVICE TO SOME ACCOUNTS SUSPENDED – SOME BORROWERS MUST MAKE MORTGAGE PAYMENT DIRECTLY TO THEIR LENDER

The Washington State Department of Financial Institutions ("Department") has received notice from its licensee, Nationwide Biweekly Administration, Inc. ("NBA"), 855 Lower Bellbrook Rd., Xenia, OH 45385, that it is working to resolve a temporary interruption to its services. This interruption affects approximately 830 consumers in Washington State. If you are one of the affected consumers, you should have received notice of the interruption in service via U.S. mail and email on or around September 18, 2015. If your contact information that you previously provided to NBA has changed, you should contact NBA immediately to provide your updated information. If you are unsure whether your account is affected, you should contact NBA immediately using one of the methods below.

Suspended Services

NBA received notice of the suspension of one of the bank accounts it uses to operate the biweekly mortgage payment program. NBA used this bank account to withdraw funds from a consumer’s checking account, hold those funds in trust, and then pay the consumer’s lender. Debits from the affected consumers’ bank accounts were suspended on or about September 14 through 16, 2015. On September 23, 2015, NBA initiated the re-deposit via an ACH transfer of funds held in the suspended bank account back into consumers’ bank accounts. The funds from NBA should appear shortly in consumers’ bank accounts, likely within the next three business days. Please monitor your bank account for the receipt of the funds transfer. The transfer will likely be identifiable as coming from "Nationwide BA."

Affected Loan Payments

DUE TO THE SUSPENDED BANK ACCOUNT, NBA WILL NOT BE MAKING YOUR MONTHLY MORTGAGE PAYMENTS UNTIL FURTHER NOTICE TO YOU.

If you received notice your account was affected, starting with your October payment, you must make your full mortgage payment directly to your lender until otherwise notified by NBA. Check your monthly mortgage statement from your lender for information about how much to pay and the options and location for making your payment. You may also wish to contact NBA for additional information.

Contact Information

NBA has set up a dedicated email address for consumers affected by the suspended bank account. You can send an email to NBA at: customercareTD@nbabiweekly.com. NBA has also set up an automated system for updates at: 1-855-418-0222.

Additionally, consumers may contact NBA at their customer service number at: 1-800-564-5693 (Monday – Friday, 9:00 am – 6:00 pm EST).

If you have any questions about this Consumer Alert, please contact Cindy Fazio at 360-902-8800 or lfazio@dfi.wa.gov.

The Washington State Department of Financial Institutions (DFI) received a complaint for what appears to be an advance fee loan scam. The consumer reported that he received an unsolicited email from Robert Cowan, working on behalf of Code Compliant Group, who offered a personal or business loan up to $75,000. The consumer received loan terms requiring the consumer to pay an upfront origination fee before Code Complaint Group could process the loan. A passport was used by Robert Cowan to verify his identity.

Passports and other forms of personal identification should not be accepted as proof that a lender is licensed in Washington State or is representing a legitimate business interest.

Code Compliant Group claims to be located at 9706 4th Ave NE #205, Seattle, WA 98115, but that address is listed to a different business.

The following contact information is also associated with Code Complaint Group. It was previously used by McConnell Financial and Andrew McConnell, which the Department issued a separate consumer alert regarding a possible scam.

Phone: 360-339-4827
Email: pjbgroup@qq.com
Fax: 206-415-9471

Code Compliant Group and Robert Cowan are not licensed with the Department to make loans. They are not registered to do business in Washington by either the Department of Revenue or the Secretary of State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.

Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers' places of employment.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

The Washington State Department of Financial Institutions (DFI) received a complaint for what appears to be an advance fee loan scam. The consumer reported that he received unsolicited phone call from someone from Easy Loans, claiming an association with Personal Money Network and Adworkz. The consumer was told he was approved for a $5000.00 loan, but would need to provide cash in advance to improve his credit score and the terms of the loan. After providing the cash amount, the consumer did not receive the loan and was not refunded the money he advanced for purposes of obtaining the loan.

Easy Loan is not licensed with the Department to make loans. They are not registered to do business in Washington by either the Department of Revenue or the Secretary of State. Adworkz, Inc. d/b/a Personal Money Network is a registered company, and appears to have no affiliation with Easy Loan.

The following contact information is associated with Easy Loan.

Phone: 815-981-8750

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.

Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers' places of employment.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

Governor Jay Inslee has proclaimed October as Cyber Security Awareness Month.

This serves as good time to make sure you are taking proper security precautions to protect your personal information and finances on the internet. Below you will find some helpful tips as well resources to help you secure your technology.
 

Cyber Security Tips

• Develop Secure Passwords for Your Online Accounts
  Develop passwords with 8 or more characters. Use a combination of capital and lowercase letters with numbers and symbols.

  Test the strength of your password: Microsoft has developed a free online tool that allows you to check the strength of your password.

• Be Suspicious of Unknown Links and Text Messages
  Be wary of email or text messages that ask you to act immediately, offer something that sounds too good to be true, or asks for personal information. If you question the authenticity of an email or text message regarding your financial accounts, contact your financial institution directly via the phone numbers or emails on their official websites.
• Access the Internet Only over Secure Networks
  When accessing online financial accounts or information that you want to keep secure, avoid using public WIFI. Hackers can install tracking software on public WIFI networks that monitor your keystrokes and passwords. Maintain the same vigilance you would on your computer with your mobile device.
• Monitor Your Financial Accounts Regularly for Fraudulent Transactions
  Check your financial accounts regularly for fraudulent transactions. If you notice a transaction that doesn’t seem right, contact your financial institution immediately.

Resources

• StopThinkConnect.org
  STOP. THINK. CONNECT is the global cybersecurity awareness campaign to help all digital citizens stay safer and more secure online. StopThinkConnect.org contains helpful tips and resources.
• Cybersecurity Tips from Homeland Security
  Helpful tips from the US Department of Homeland Security.
• Cyber Security Publications
  Free publications on how to set up a secure WIFI network, create strong passwords, create data backups, and more.
   
   

The Washington State Department of Financial Institutions (DFI) has received a complaint against Silver Cloud Financial, Inc. It appears that this entity is operating as an online payday lender.  Silver Cloud Financial, Inc. asserts that it is wholly owned by the Habematolel Pomo of Upper Lake, a federally-recognized Indian Tribe, and that it has sovereign immunity.  Based on its claim of sovereign immunity, it asserts that it is not subject to regulation by the Department and that only the United States Government has jurisdiction over federally recognized Indian Tribes and their business activities.

Silver Cloud Financial, Inc. is not licensed by DFI.  This entity is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.  Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.

Silver Cloud Financial, Inc. operates a website at www.silvercloudfinancial.com, lists its phone number as 707-275-9938, and lists an email address as customerservice@silvercloudfinancial.com.

If you have a complaint against Silver Cloud Financial, Inc. you can mail it to:
TCFS Regulatory Commissioner
Habematolel Pomp of Upper Lake
Tribal Consumer Financial Services Regulatory Commission
635 E. Highway 20
Upper Lake, CA 95485

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.

Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers' places of employment.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

The Washington State Department of Financial Institutions ("DFI") warns consumers to verify the identity of any person or entity claiming to represent a legitimate government agency. Consumers are urged to withhold providing nonpublic personal information, such as social security number and checking account access, from anyone claiming to represent a government agency and collecting a debt or fee of any kind.

DFI received a complaint for what appears to be a debt collection scam. The consumer reported that she received a letter from "The Department of Financial Institutions, Washington DC." The consumer was told that her debit card was suspended and she would need to provide $15,750.00 to reinstate it. The letter contained improperly manipulated government agency seals, other insignia, and employee signatures.

The following contact information is associated with the letter. 150 Israel Rd SW, Tumwater, WA 98501, P.O Box 41200, Olympia WA 98504-1200, Washington DC – USA. The letter was purportedly signed by Gloria Papiez, Director of Administration.

Phone: 1-877-RING DFI (746-4334).

Government agencies do not contact consumers requesting sums of money to reinstate debit cards. Some of the information contained in the letter is connected with the Department, but was fraudulently used by a third party to facilitate a scam.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.

Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers' places of employment.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

Fort Belknap Indian Community d/b/a Green Valley Cash

The Washington State Department of Financial Institutions (DFI) warns consumers to verify that any lender they consider doing business holds a license in Washington to make loans. Consumers are urged to verify licensing status prior to giving the lender nonpublic personal information, such as social security number and checking account access.

DFI has received information that Green Valley Cash is making loans to Washington residents. It appears that this entity is operating as an online lender. It asserts that it is wholly owned by the Fort Belknap Indian Tribe of Montana, and that it has sovereign immunity from state lending laws or regulation by the Department.

Green Valley Cash is not licensed by the Department or authorized to make loans in Washington. Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington.

Green Valley Cash has been associated with the following contact information:

Green Valley Cash
800-501-3006
greenvalleycash.com

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.

Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers' places of employment.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

Updated: October 27, 2015
Originally Posted: October 31, 2013

Also Doing Business As:

• Cash Advance
• US Cash Advance
• Cash Advance Inc
• and other entities using variations of the name “Cash Advance”

The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lending professional they are considering doing business with. You can verify a license by calling the Department of Financial Institutions at 1-877-RING DFI (746-4334) or online at www.dfi.wa.gov.

DFI has received reports of what appears to be a payday loan collection scam. Numerous consumers report that they have been contacted by phone and e-mail by entities claiming to collect debt owed to companies with “Cash Advance” in their names. The collection attempts often involve threats of lawsuits, asset seizure, and arrest. Additionally, a consumer was instructed to pay the alleged debt using a prepaid card. It appears that the consumers who were contacted do not actually owe money to Cash Advance.

Two consumers report that they received e-mails claiming that an arrest warrant had been issued because they had not paid Cash Advance Inc. or Cash Advance. One consumer received an e-mail from a man calling himself William C. Jones, who claimed to work at a Federal Trade Commission office. He threatened to disclose the debt to the consumer’s employer, garnish her wages, and file a law suit against her. Another consumer received a similar e-mail from a person calling himself Neal Johnson. A fake U.S. District Court arrest warrant was attached to both of these e-mails.

Several consumers also report receiving phone calls from entities attempting to collect debts owed to Cash Advance, Cash Advance Group, and US Cash Advance. The collection calls came from people who called themselves Brian Wilson, John Murphy, and Jim Spencer. Some calls also came from a person claiming to work for Peterson Law Group. In one case, the caller threatened that he could have an arrest warrant issued if the consumer did not immediately pay him with a credit card. In another case, the caller threatened to seize the consumer’s bank account and serve the consumer with legal papers at his workplace unless he paid the debt. Another consumer was threatened with arrest.

Other consumers report receiving threatening e-mails attempting to collect alleged debts owed to one of Cash Advance Inc.’s companies. The representatives identified themselves as Jason Marroitt and David Jones. The emails also list numerous companies that they claim are affiliated with Cash Advance Inc.

The following contact information is associated with these calls and e-mails:

Addresses:
12850 W 331 Ste. 60, Alpamont, UT 84201 (address does not appear to exist)
and
8901 S Wilton Place, Los Angeles, CA 90047

These entities are not licensed by the Washington State of Department of Financial Institutions as payday lenders or by the Washington State Department of Licensing as collection agencies.

Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

The Washington State Department of Financial Institutions (DFI) received a complaint from a Washington State consumer about what appears to be an unlicensed consumer loan activity.  The consumer reported that he was contacted by a Jason Payne with Lenders Services soliciting a VA mortgage loan. The consumer was asked multiple questions regarding his current loan.

The contact information associated with Lenders Services is the phone number 866-688-1923. The associated address with Lenders Services is 71 Stevenson Street Suite 400, San Francisco, CA 94105.

Lenders Services is not licensed with the Department to make loans.  Lenders Services is not registered to do business in Washington by either the Department of Revenue or the Secretary of State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on DFI’s website at www.dfi.wa.gov.

Report Fraud

If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

Updated: October 29, 2015
Originally posted: February 29, 2012

Scammers posing as: Insight Capital, TTG Services

The Washington State Department of Financial Institutions (DFI) warns consumers to verify the identity of anybody attempting to collect a debt. DFI also warns consumers to verify that the debt that being collected is debt that the consumer actually owes. DFI urges consumers to verify this information before making payment arrangements or giving nonpublic personal information to anybody attempting to collect a debt.

DFI has received numerous complaints about what appears to be a debt collection scam. Consumers report receiving phone calls from individuals claiming to collect debt owed to Insight Capital/TTG Services. The consumers report that they do not owe debt to Insight Capital/TTG Services.

The callers use harassing collection methods, including threats of criminal prosecution and threats to come to consumers’ places of employment. In at least one case, the consumer began making payments on the purported debt. However, the consumer continued to receive harassing collection calls.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the "Verify a License" feature at DFI’s website, www.dfi.wa.gov.

Consumers can determine whether collection agencies are properly licensed at the Washington State Department of Licensing’s website. Go to www.dol.wa.gov/business/checkstatus.html and click “Search business and professional licenses.”

Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.

Report Fraud

Washington State residents, if you are suspicious of unlicensed activity by a payday lender please contact DFI at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. If you are suspicious of a collection agency, you may also contact the Washington State Department of Licensing or the Washington State Attorney General’s Office. For more information, go to www.dol.wa.gov/business/collectionagency/colrights.html.

If you live in another state, find the regulator in your home state on the NMLS website.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372) or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

Updated: November 02, 2015
Originally posted: September 23, 2013

The Washington State Department of Financial Institutions (DFI) warns consumers to verify that any lender with which they consider doing business holds a Washington State license for providing any type of loan services. DFI urges consumers to verify licensing status prior to giving the lender nonpublic personal information, such as social security number and checking account access.

DFI has received complaints about the following online lenders:

• Island Finance, LLC d/b/a White Hills Cash
• Clear Water Lending, LLC d/b/a Cash Fairy
• West River Finance, LLC d/b/a West River Cash
• Blue Thread Lending, LLC
• North Star Finance, LLC d/b/a Northcash
• Northern Plains Funding, LLC d/b/a Northern Plains Funding
• Riverbend Finance LLC d/b/a Riverbend Cash

These companies assert that they are wholly owned by the Fort Belknap Indian Community, a federally-recognized Indian Tribe, and that they have sovereign immunity. Based on their claim of sovereign immunity, they assert that they are not subject to regulation by DFI, and that only the Tribe and United States Government has jurisdiction over their business activities.

These companies are not licensed by DFI and are not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State. Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington State is uncollectible and unenforceable in Washington State.

These companies have been associated with the following contact information:

Island Finance, LLC d/b/a White Hills Cash
www.whitehillscash.com
800-986-1962
customersupport@whitehillscash.com

Clear Water Lending, LLC d/b/a Cash Fairy
www.cashfairy.com
866-300-6046

West River Finance, LLC d/b/a West River Cash
www.westrivercash.com
888-890-7700
support@westrivercash.com

Blue Thread Lending, LLC
www.bluethreadlending.com
888-220-BLUE (2583)
support@bluethreadlending.com

North Star Finance, LLC d/b/a Northcash
www.northcash.com
855-333-6570
customercare@northcash.com

Northern Plains Funding, LLC d/b/a Northern Plains Funding
www.northernplainsfunding.com
888-667-8499
customersupport@northernplainsfunding.com

Riverbend Finance, LLC d/b/a Riverbend Cash
www.riverbendcash.com
888-387-1977
customerservice@riverbendcash.com

If you have a complaint against any of these entities, you may call the Fort Belknap Tribal Hotline at 888-517-3696 or mail your complaint to:

White Hills Cash
Attn: Michelle Fox
PO Box 330
Hays, MT 59527

Blue Thread Lending
Attn: Michelle Fox
PO Box 535
Hays, MT 59527

Riverbend Cash
Attn: Michelle Fox
PO Box 557
Hays, MT 59527

Cash Fairy
Attn: Michelle Fox
PO Box 320
Hays, MT 59527

Northcash
Attn: Michelle Fox
PO Box 498
Hays, MT 59527

West River Cash
Attn: Michelle Fox
PO Box 30
Hays, MT 59527

Northern Plains Funding
Attn: Michelle Fox
PO Box 516
Hays, Montana 59527

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the "Verify a License" feature on DFI's website at www.dfi.wa.gov/consumers/findcompany.htm.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 1-877-FTC HELP, or online at www.ftc.gov.

Report Fraud

Washington State residents, if you are suspicious of unlicensed activity by a payday lender please contact the Washington State Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you live in another state, find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

At first glance, marijuana, binary options, and digital currency appear to have no real connection to one another. But what they all have in common is their recent emergence as three investments that both sellers and buyers hope will become the "next big thing." Before you consider investing, make sure you understand what these products are, their benefits, and their risks.

Marijuana Investments

As more states and jurisdictions clarify their legal definitions on the growth and use of medical and recreational marijuana, an increasing number of companies focused on the marijuana industry are seeking funds from investors. Still illegal at the federal level and in many states, there are several factors that investors should be aware of when it comes to marijuana investment opportunities.

The emerging marijuana market is highly volatile and only semi-legitimate because regulations for medical and recreational use vary greatly between states and jurisdictions. For this reason, the secondary market for these kinds of investments is limited and investors may have difficulty recouping their money. In some cases, the business may be forced to cease operations by law enforcement, leaving investors with no recourse to recover their funds.

The standard information investors use to make informed financial decisions is limited for many marijuana investments. For example, since this is an emerging market there would be no specific data on historical trends, making all forecasted profits extremely speculative.

Due to marijuana’s questionable legal status, there are limited traditional financial avenues for day-to-day and necessary business operational transactions. For example, most banks refuse to open business accounts for these companies, forcing them to transact on a cash-only basis with suppliers and other service providers.

Marijuana investment opportunities could be particularly susceptible to scams, such as “pump-and-dump,” which use misinformation to pressure investors to get in on the “ground floor” thereby pumping up the company’s share prices.

Binary Options

A binary option is a simplified options contract that looks more like online gambling than a traditional security or investment. The binary option contract is based on the investor’s prediction of an underlying security’s value at a predetermined date. There are only two possible outcomes: the investor may receive a fixed amount of money for guessing correctly, or lose the entire investment for guessing incorrectly. For example, an investor enters into a binary option contract worth $100 that promises to pay the investor a 95% return if Company ABC’s stock rises from its current trading price of $20 per share to $25 per share by a certain date. If it does, the payout is 195% of the contract’s original value, or a total of $195 ($100 + $95). If it doesn’t, the payout is $0 – a complete loss of the original investment.

While some binary options are offered on a registered exchange or a designated contract market subject to SEC and CFTC oversight, the amount of Internet-based trading platforms has surged in recent years. Many are these platforms are unregulated or are completely illegal.

Binary option contracts are an attractive strategy for scammers because they target unsophisticated investors with a simple-to understand “investment opportunity” and a perceived low entry cost. The contracts can be executed for hourly, daily or weekly terms. Illegal or fraudulent binary option issuers and platforms have refused to pay out on investors’ contracts; have stolen and sold investors’ personal and financial information, such as bank account and credit card numbers; or have based the platform on software that favors the scammers by generating losing trades for the investor.

Before considering binary options, check with the following regulators to verify registration:

Binary option registration:

SEC Edgar
Canadian Securities Administrators National Registration Search

Trading platform registration:

SEC
Commodities Trading Futures Commission

Financial professional licensing:

Washington State Department of Financial Institutions - 1-877-746-4334 or FINRA’s BrokerCheck.

Digital Currency

Bitcoin and other digital currency are poised to be back in headlines again as new exchanges emerge claiming to be licensed and regulated by federal, state, or jurisdictional financial authorities and a growing number of brand-name retailers accepting digital currency as payment for goods and services.

As Bitcoin and other digital currencies attract the attention of private companies and regulators, investors should be aware of the following when approached with potential investment opportunities.

• Digital currency value fluctuates wildly because it is decentralized and often the subject of “breaking” news and rumors.
• Since different countries and jurisdictions have little uniformity on how Bitcoin and digital currency is regulated, scammers will take advantage of the confusion and contradictions to misinform potential investors.
• Hackers are attracted to digital currency because it’s intangible, can be difficult to trace, and is vulnerable to cyberattacks.

The Bottom Line

The bottom line: There are many investment opportunities among the above mentioned categories, but before making any decisions with your money, ask questions, and do your homework.

The Washington State Department of Financial Institutions (DFI) warns consumers to verify that any lender with which they consider doing business holds a Washington State license for providing any type of loan services. Consumers are urged to verify licensing status prior to giving the lender nonpublic personal information, such as social security number and checking account access.

DFI has received information that Ningodwaaswi LLC d/b/a Sky Trail Cash is operating as an online lender. Ningodwaaswi LLC d/b/a Sky Trail Cash asserts that it is wholly owned by the Lac du Flambeau Band of Lake Superior Chippewa Indians, a federally-recognized Indian Tribe, and that it has sovereign immunity. Based on its claim of sovereign immunity, it asserts that it is not subject to regulation by DFI and that only the Tribe and United States Government have jurisdiction over it.

Ningodwaaswi LLC d/b/a Sky Trail Cash is not licensed by the DFI. It is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State. Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington State is uncollectible and unenforceable in Washington State.

Ningodwaaswi LLC d/b/a Sky Trail Cash has the following contact information:

Website: www.skytrailcash.com
Phone Number: 844-650-5931
E-mail Address: customerservice@skytrailcash.com

Mailing Address:
Ningodwaaswi, LLC
PO Box 1115
Lac du Flambeau, WI 54538

If you have a complaint against Ningodwaaswi LLC d/b/a Sky Trail Cash you can mail it to:

Lac du Flambeau Tribe
PO Box 67
Lac du Flambeau, WI 54537

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the "Verify a License" feature on DFI's website at www.dfi.wa.gov/consumers/findcompany.htm.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 1-877-FTC HELP, or online at www.ftc.gov.

Report Fraud

Washington State residents, if you are suspicious of unlicensed activity by a payday lender please contact the Washington State Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you live in another state, find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.