Advance Fee Loan Scams

Credit Services Scams

Credit services businesses purport to aid individuals get credit, boost their credit score or history, or offer credit advice or help. Credit services scam designers frequently charge individuals thousands for things they are able to do on their own 100% free. More info on clearing up your credit file and enhancing your credit history comes in our leaflets entitled “credit history” and “credit ratings.” To learn more about credit solutions scams, see our “Debt Assistance Scams” flyer. Never work with a credit solutions company unless its precisely registered using the Minnesota Department of Commerce.

Under this scam, you will get a call or email from the lender that is purported or make an application for that loan on an online site. The purported loan provider provides you that loan, but requires you to definitely send cash up-front (usually with a cable transfer or even a reloadable card) beneath the guise of a advance payment, insurance coverage charge, or other cost. Following the cash is delivered, the lender that is purported together with individual never ever gets the mortgage. More info about this scam will come in our “Advance Fee Loan Schemes & different Financial Scams” flyer.

Additional Resources

The Minnesota Attorney General’s workplace provides the after materials, that are built to offer information to Minnesotans on dilemmas pertaining to money and credit:

Minnesota Department of Commerce

The Minnesota Department of Commerce may be the state agency that licenses banks that are state-chartered other state-chartered banking institutions in Minnesota. The Commerce Department additionally licenses payday lenders, many financial obligation administration and debt consolidation solutions providers, and particular credit solutions businesses.

Federal Trade Commission

The Federal Trade Commission (FTC) may be the federal agency that has authority to do this against misleading, fraudulent and unfair company techniques available on the market. The FTC as follows for more information or to file a complaint, contact

Customer Financial Protection Bureau

The buyer Financial Protection Bureau is a federal agency that has authority to enforce different federal laws and rules and also to advocate on the behalf of customers because it pertains to issues with banking institutions, mortgages, charge cards, and finance institutions. To find out more or even register a issue, contact the buyer Financial Protection Bureau the following:

Any office for the Comptroller associated with money

Any office for the Comptroller associated with Currency could be the federal agency with authority to license and manage nationwide banking institutions. To find out more or even file a grievance against a bank that is national contact the Office of this Comptroller of this Currency as follows:

The Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation (FDIC) is really a federal agency with all the authority to modify state-chartered banking institutions which do not get in on the reserve system that is federal. To learn more or to register a issue in regards to a state-chartered bank which is not a user regarding the federal book system, contact the FDIC the following:

Board of Governors associated with the Federal Reserve System

The Federal Reserve Board of Governors is a federal agency with the authority to manage state-chartered banks which can be people in the Federal Reserve System. To find out more or to register a issue against a state-chartered bank this is certainly a part associated with Federal Reserve System, contact the Board of Governors as follows:

Nationwide Credit Union Management

The nationwide Credit Union management could be the agency that is federal authority to license and control credit unions. The National Credit Union Administration as follows for payday loans WY more information or to file a complaint about a credit union, contact