Alert number: 055871_2.9.23(2.24)
Originally posted: May 01, 2023
The Washington State Department of Financial Institutions (DFI) has received complaints from Washington State consumers against Kali, LLC, d/b/a Condor Credit. The consumers reported obtaining a loan from Condor Credit that included excessive fees and interest.
It appears that Condor Credit may be operating as an unlicensed tribal lender. Condor Credit claims to be owned by the Big Valley Band of Pomo Indians, a federally recognized Indian Tribe.
Condor Credit is not licensed by the DFI and is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.
It appears that Condor Credit operates a website at [www.condorcredit.com] and lists its contact information as:
2770 Mission Rancheria Rd., #747
Lakeport, CA 95453
Phone: 844*611*5564
[clientservices@condorcredit.com]
DFI warns Washington consumers that before doing business with a financial service provider the consumer should:
Make sure that the entity is licensed. Consumers can use the “Verify a License” feature on DFI’s website at www.dfi.wa.gov to check whether a payday or consumer loan company is licensed to conduct business in the state of Washington.
Not provide any personal information, such as social security number or bank account number or access if the company is not licensed or authorized to conduct business.
Important Information for Washington Consumers About Unlicensed Lenders
Washington State residents are informed that Washington State law provides in RCW 31.45.105(1)(d) and (3) that a “small loan” made by an unlicensed entity (which is not otherwise exempt from licensure) to a person physically located in Washington State is uncollectible and unenforceable in Washington State. A “small loan” is defined in RCW 31.45.073 as a loan that does not exceed $700 and requires repayment between 7 and 45 days after the loan is made. You should consider obtaining legal advice to determine if your loan is collectible or enforceable in Washington before deciding not to pay.
Washington State residents are informed that Washington State law provides in RCW 31.04.035 that fees or interest charged in the making of a nonresidential loan by an unlicensed lender (which is not otherwise exempt from licensure) must be refunded to the borrower.
Report Unlicensed Lending Activity or Fraud
Washington State residents only: If you suspect unlicensed activity by a payday lender or consumer loan company, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. Even if your activity involves a loan over the internet, a license may still be required.
If you live in another state, find the regulator in your home state.