Washington State Department of Financial Institutions

Consumer Alert:
Payday Quick Cash

Unlicensed Payday Loans

February 22, 2012

The Washington State Department of Financial Institutions (DFI) received a complaint from a consumer who obtained an online payday loan from the entity, Payday Quick Cash. The consumer alleged that this entity withdrew excess funds from his bank account.

Payday Quick Cash is not licensed by the Department, or registered to do business in Washington by either the Department of Revenue or the Secretary of State. The Department was unable to verify its identity or contact information.

Verify Licenses

DFI strongly recommends that residents verify the license of any lender with which they consider doing business with. Consumers are urged to verify licensing status prior to giving the lender nonpublic personal information, such as social security number and checking account access. You can verify a license with DFI at www.dfi.wa.gov or by calling 1.877.RING DFI (746-4334).

Report Violators

If you feel you are in immediate danger contact local law enforcement.

If you are suspicious of unlicensed activity by a consumer lender, contact DFI at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you feel you have been the victim of a loan scam, contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357), or online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet, contact the Internet Crime Complaint Center at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

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