Advance Fee Loan Scams

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Credit Services Scams

Credit services companies purport to aid individuals get credit, boost their credit rating or history, or offer credit advice or support. Credit services scam musicians often charge individuals 1000s of dollars for things they could do on their own 100% free. More info on cleaning your credit file and improving your credit history is for sale in our leaflets entitled “credit history” and “credit ratings.” To learn more about credit solutions frauds, see our “Debt Assistance Scams” flyer. Try not to work with a credit solutions company unless it really is precisely registered aided by the Minnesota Department of Commerce.

Under this scam, you obtain a call or e-mail from a purported loan provider, or submit an application for a loan on a web site. The purported loan provider provides you that loan, but calls for you to definitely send cash up-front (usually using a cable transfer or a reloadable card) underneath the guise of the advance payment, insurance coverage charge, or other cost. Following the cash is delivered, the purported lender vanishes as well as the individual never ever receives the loan. More details with 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 built to offer information to Minnesotans on problems associated with money 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 finance institutions in Minnesota. The Commerce Department additionally licenses payday loan providers, debt management that is most and debt consolidation services providers, and specific credit solutions companies. 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 agency that is federal has authority to do this against misleading, fraudulent and unjust company techniques available on the market. The FTC as follows for more information or to file a complaint, contact

Customer Financial Protection Bureau

The customer Financial Protection Bureau is really a federal agency that has authority to enforce different federal laws and regulations also to advocate on the behalf of customers since it pertains to difficulties with banking institutions, mortgages, charge cards, and banking institutions. The Consumer Financial Protection Bureau as follows for more information or to file a complaint, contact

Any office of this Comptroller associated with the money

Any office for the Comptroller associated with the Currency may be the agency that is federal authority to license and manage nationwide banking institutions. To learn more or even register a grievance against a nationwide bank, contact the Office for the Comptroller associated with Currency as follows:

The Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation (FDIC) is really a federal agency using the authority to modify state-chartered banking institutions which do not join the reserve system that is federal. 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 a federal agency with the authority to modify state-chartered banking institutions which are users of the Federal Reserve System. To learn more or even register a grievance against a state-chartered bank this is certainly a part for the 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 manage credit unions. The National Credit Union Administration as follows for more information or to file a complaint about a credit union, contact