FSST Financial Services, LLC Not Licensed In Washington

Date Posted: 
Tuesday, October 2, 2018

Alert Number: CA049420_9/5/18(9/19)
Updated: 10/02/2018
Originally Posted: 06/05/2012

The State of Washington Department of Financial Institutions (DFI) has received complaints against FSST Financial Services, LLC d/b/a Aspen Peak Financial; also d/b/a Integrity Payday Loans; also d/b/a Rushmore Financial (hereafter referred to collectively as FSST Financial). Consumers reported that FSST Financial charged excessive fees and interest, would not give consumers an installment payment plan, threatened legal action, and tried to settle accounts for amounts over the loan amount.

The DFI received a complaint from a Washington State consumer of what appears to be a possible debt collection scam. The consumer reported receiving threatening and harassing phone calls from individuals claiming to collect on an alleged debt with Integrity Payday Loans. The individuals requested the consumer’s bank account information and demanded that the consumer pay the alleged debt or legal action would proceed. The consumer reported never obtaining a payday loan. Contacts associated with the debt collection scam are Ron Patrick, Dustin Patrick, and Cindy Stanberg as “Office Manager” at these telephone numbers: 360*888*3637 and 360*942*7419.

Additionally, the DFI received a complaint from another Washington State consumer of what appears to be another possible debt collection scam. This consumer reported receiving a payday loan from Aspen Peak Financial, and then paid it in full. The consumer then began receiving threatening calls by an individual claiming to collect on the paid off debt. The individual threatened legal action and possible imprisonment. The consumer reported this telephone number as being associated with the individual: 360*464*9559.

These facts are all alleged and have not been verified by the Department.

It appears that FSST Financial may be operating as an unlicensed online tribal loan company. FSST Financial claims to be owned by the Flandreau Santee Sioux Tribe, a federally-recognized Indian Tribe located in South Dakota.

FSST Financial 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.

FSST Financial operates a website at [www.aspenpeakfinancial.com] and at [www.rushmorefinancial.net] and at [www.integritypaydayloans.com], which reverts to [www.ipltoday.com], and lists its contact information as:

FSST Financial Services, LLC
d/b/a Aspen Peak Financial
P.O. Box 283
Flandreau, South Dakota 57028
Phone: 877*460*2938
Fax: 888*582*6059
[customerservice@aspenpeakfinancial.com]

FSST Financial Services, LLC
d/b/a/ Integrity PDL Services
P.O. Box 283
Flandreau, South Dakota 57028
Phone: 877*562*4980
[customerservice@ipltoday.com]

FSST Financial Services, LLC
d/b/a/ Rushmore Financial
P.O. Box 283
Flandreau, South Dakota 57028
Phone: 855*836*3650
Fax: 877*769*6705
[customerservice@rushmorefinancial.net]

DFI warns Washington consumers that, before doing business with a financial service provider, a 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.

Please note that FSST Financial Services, LLC d/b/a Aspen Peak Financial; also d/b/a Integrity Payday Loans; also d/b/a Rushmore Financial should not be confused with the following companies licensed to conduct business in the State of Washington through the Secretary of State, Department of Revenue, and/or Department of Licensing:

Rushmore Loan Management Services, Inc.
15480 Laguna Canyon Road
Irvine, CA 92618

Rushmore Service Center, LLC
3820 N. Louise Avenue
Sioux Falls, SD 57107

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 collectable or enforceable in Washington before deciding not to pay. Washington State residents with loans exceeding $700 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 must be refunded to the borrower.

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 the activity involves a loan you obtained over the internet, a license is generally still required. If a collection agency is attempting to collect a debt from you, check that the company is licensed by the State of Washington Department of Licensing. Collection activities by payday lenders in the State of Washington are subject to RCW 31.45.082, which limits the time, place, and manner by which a payday lender may collect a debt. Payday lenders must also provide borrowers with an installment plan if the borrower is not able to pay the small loan back when it is due.

Important Information for All Consumers

  • If you received a loan from a lender and someone else is now attempting to collect the loan, the collection activity may be subject to the federal Fair Debt Collection Practices Act (FDCPA). If you are contacted by a third party claiming you owe a debt, you can request a “written validation notice,” which must provide the amount of the debt, the name of the creditor you owe, and your rights under the FDCPA. If you have questions regarding federal debt collection laws you can contact the Federal Trade Commission (FTC) at 1-877-FTC HELP or online at www.ftc.gov.
  • If you feel you have been the victim of a scam you can contact the FTC at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or the Consumer Financial Protection Bureau at 1-855-411-CFPB (2372) or online at http://www.consumerfinance.gov.
  • If you feel you have been the victim of a loan scam involving the internet you can 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, you can contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC’s website at www.ftc.gov.
  • If you live in another state, go to this webpage to find the regulator in your home state: http://mortgage.nationwidelicensingsystem.org/consumer/Pages/AgencyContacts.aspx.