CONSUMER ALERT: TRIBAL PAYDAY LENDERS

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

FILING A COMPLAINT AGAINST A PAYDAY LENDER

Federal Government:
To file a complaint against a tribal-run payday lender, please contact the Federal Trade Commission at 1-877-FTC HELP (382-4357), or online at www.ftc.gov.

State of Oregon:
To file a complaint against a payday lender conducting business with Oregon consumers, contact DCBS’s Division of Finance and Corporate Securities (DFCS) by phone, 503-378-4140, or toll-free, 866-814-9710, or go to www.dfcs.oregon.gov/fileacomplaint.html. Send mail to: Department of Consumer & Business Services Division of Finance & Corporate Securities P.O. Box 14480 Salem, OR 97309-0405

FINDING A PAYDAY LENDER LICENSED IN OREGON

We recommend that all Oregon consumers conduct business with payday lenders licensed by the State of Oregon. To find out which entities are licensed to make payday loans in Oregon contact DFCS by telephone, 503-378-4140, or toll-free, 866-814-9710 or go to http://www.dfcs.oregon.gov/cf/search.html.