Washington State Department of Financial Institutions

Consumer Alert:
Red Leaf Lending

September 04, 2013

The Washington State Department of Financial Institutions (DFI) has received complaints from Washington consumers who reported they obtained online payday loans from Red Leaf Lending. The consumers complained of excessive fees and interest, annoying phone calls and threats of being sent to collection after consumer paid off the loan.

Red Leaf Lending operates a website at www.redleaflending.com. On its website, Red Leaf Lending identifies its location and contact information as:

Red Leaf Ventures, LLC
Hunkins Waterfront Plaza
Main Street, Suite 556
Charlestown, Nevis
West Indies

customerservice@redleaflending.com
Phone number: 855-733-7310

Red Leaf Lending is not licensed by the Washington State Department of Financial Institutions as a small loan or payday lender. This entity is not registered to conduct business in Washington State by the Department of Revenue or the Secretary of State. Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the "Verify a License" feature on DFI's website at www.dfi.wa.gov/consumers/findcompany.htm.

Payday Loan Debt Collection Laws

Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 1-877-FTC HELP, or online at www.ftc.gov.

Report Fraud

Washington State residents, if you are suspicious of unlicensed activity by a payday lender please contact the Washington State Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you live in another state, find your state regulator.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online 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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