Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Sunday, December 02, 2012
Oregon Regulator Issues Caution On Doing Business With Payday Lenders & Other Short Term Loan Sharks Affiliated With Federally-Recognized Indian Tribes
From the State of Oregon Division of Finance and Corporate Securities:
It has come to our attention that a number of lenders offering short-term loans (payday loans) to Oregon consumers are subdivisions of, or affiliated with, federally-recognized Indian tribes. As a result, these companies may not be subject to the jurisdiction of the Oregon Department of Consumer and Business Services (DCBS). We are still evaluating the law and the various tribes’ positions to determine if tribal lenders are outside Oregon’s authority.
Most Internet-based payday lenders, including the companies listed below, are not licensed to do business in Oregon. If you are considering using the services of an Internet-based payday lender or any other company not licensed to do payday lending in Oregon, you should be aware that they typically charge interest rates and other fees significantly above the limits found in Oregon law.
Based on consumer complaints received by DCBS and information received from other states, it appears that the following are tribal-run payday lenders. (Note: this is likely not an exclusive list.):
US Fast Cash
Ameriloan
United Cash Loans
Star Cash Processing
Instant Cash USA
1000paydaycash.com
500 Fast Cash
Nofaxingpaydayloan.com
PaycheckToday.com
Quickestpaydayloan.com
Rio Resources
Xtra Cash
One Click Cash
Preferred Cash
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