Advance Fee Loan Scams

Advance Fee Loan Scams

Credit Services Scams

Credit services businesses purport to simply help individuals get credit, enhance their credit score or history, or offer Full Report credit advice or help. Credit services scam musicians frequently charge individuals 1000s of dollars for things they are able to do on their own free of charge. More details on clearing up your credit history and enhancing your credit history will come in our flyers entitled “credit file” and “credit ratings.” To learn more about credit solutions frauds, see our “Debt Assistance Scams” flyer. Usually do not do company with a credit solutions company unless it really is precisely registered with all the Minnesota Department of Commerce.

Under this scam, you obtain a call or email from the purported loan provider, or make an application for that loan on an internet site. The lender that is purported you financing, but calls for you to definitely send cash up-front (usually with a cable transfer or a reloadable card) beneath the guise of a deposit, insurance cost, or other cost. Following the cash is delivered, the lender that is purported while the person never ever gets the mortgage. Extra information on this scam comes in our “Advance Fee Loan Schemes & different Financial Scams” flyer.

Additional Resources

The Minnesota Attorney General’s workplace provides the materials that are following that are made to offer information to Minnesotans on dilemmas associated with cash and credit:

Minnesota Department of Commerce

The Minnesota Department of Commerce may be the state agency that licenses state-chartered banking institutions and other state-chartered banking institutions in Minnesota. The Commerce Department additionally licenses payday loan providers, debt management that is most and debt negotiation solutions providers, and particular credit solutions businesses. To find out more or to register a problem, contact the Commerce Department the following:

Federal Trade Commission

The Federal Trade Commission (FTC) could be the federal agency that has authority to do this against misleading, fraudulent and unjust company methods available on the market. To learn more or to register a issue, contact the FTC the following:

Customer Financial Protection Bureau

The buyer Financial Protection Bureau is really a federal agency that has authority to enforce different federal laws and legislation also to advocate with respect to customers since it pertains to difficulties with banks, mortgages, charge cards, and financial institutions. The Consumer Financial Protection Bureau as follows for more information or to file a complaint, contact

Any office associated with Comptroller associated with money

Work of the Comptroller regarding the Currency could be the agency that is federal authority to license and control nationwide banking institutions. To learn more or even to file a issue against a national bank, contact the Office for the Comptroller regarding the Currency as follows:

The Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation (FDIC) is just a federal agency using the authority to manage state-chartered banking institutions which do not join the federal book system. The FDIC as follows for more information or to file a complaint about a state-chartered bank that is not a member of the federal reserve system, contact

Board of Governors regarding the Federal Reserve System

The Federal Reserve Board of Governors is just an agency that is federal the authority to manage state-chartered banking institutions which can be people in the Federal Reserve System. To learn more or to register a problem against a state-chartered bank this is certainly an associate associated with Federal Reserve System, contact the Board of Governors as follows:

National Credit Union Management

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

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