Advance Fee Loan Scams

Advance Fee Loan Scams

Credit Services Scams

Credit services companies purport to help individuals obtain credit, enhance their credit history or rating, or offer credit advice or support. Credit services scam music artists usually charge individuals 1000s of dollars for things they are able to do by themselves free of charge. More details on cleaning your credit history and improving your credit history will come in our leaflets entitled „credit file“ and „credit ratings.“ To learn more about credit solutions scams, see our „Debt Assistance Scams“ flyer. Usually do not work with a credit services company unless it’s correctly registered with all the Minnesota Department of Commerce.

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

Additional Resources

The Minnesota Attorney General’s Office provides the materials that are following that are built to offer information to Minnesotans on problems pertaining to money and credit:

Minnesota Department of Commerce

The Minnesota Department of Commerce could be the state agency that licenses state-chartered banking institutions and other state-chartered banking institutions in Minnesota. The Commerce Department additionally licenses payday lenders, debt management that is most and debt negotiation solutions providers, and specific credit solutions businesses. The Commerce Department as follows for more information or to file a complaint, contact

Federal Trade Commission

The Federal Trade Commission (FTC) may be the federal agency that has authority to take action against deceptive, fraudulent and unjust company methods 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 just a federal agency that has authority to enforce different federal regulations and guidelines also to advocate with respect to customers because it pertains to difficulties with banking institutions, mortgages, charge cards, and finance institutions. To find out more or even register a complaint, contact the buyer Financial Protection Bureau the following:

Any office of the Comptroller associated with the money

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

The Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation (FDIC) is a federal agency using the authority to modify state-chartered banks which do not get in on the federal book system. To learn more or even to register a grievance of a state-chartered bank that isn’t a user associated with the federal book system, contact the FDIC the following:

Board of Governors associated with Federal Reserve System

The Federal Reserve Board of Governors is an agency that is federal the authority to modify state-chartered banking institutions being people in the Federal Reserve System. The Board of Governors as follows for more information or to file a complaint against a state-chartered bank that is a member of the Federal Reserve System, contact

National Credit Union Management

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