Alert Number: CA052497_8/18/20(8/18/21)
The State of Washington Department of Financial Institutions (DFI) has received a complaint from a Washington consumer against Habematolel Pomo of Upper Lake California d/b/a Majestic Lake Financial, Inc. The consumer reported that Majestic Lake Financial provided a loan to the consumer and, according to the consumer, claimed low interest rates on its loan product. Since the inception of the loan, the consumer has been obligated to repay an amount much higher than the original principal loan amount. This information was alleged by the consumer and has not been verified by the Department.
Majestic Lake Financial, Inc. maintains the following contact information:
- Customer Support Line: 844*427*1400
- Fax Number: 855*568*5928
- Email: [email@example.com]
- Mailing Address: 635 East Hwy 20, K, Upper Lake, California 95485
Another company called Mountain Summit Financial, Inc. appears to be connected to Majestic Lake Financial.
Mountain Summit Financial, Inc. maintains the following contact information:
- Customer Support Line: 855*819*6999
- Fax Number: 855*819*7196
- Email: [firstname.lastname@example.org]
- Mailing Address: 635 East Hwy 20, F, Upper Lake, California 95485
According to the companies’ websites, both companies claim to be owned and operated by the Habematolel Pomo of Upper Lake California, a federally recognized Indian Tribe located in California. Neither Majestic Lake Financial, Inc. nor Mountain Summit Financial, Inc. is licensed by the DFI and neither is registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.
If you have a complaint against Majestic Lake Financial, you can file a complaint on that company’s website at [https://www.majesticlakefinancial.com/complaint/]. If you have a complaint against Mountain Summit Financial, you can file a complaint on that company’s website at [https://www.mountainsummitfinancial.com/complaint/].
DFI warns Washington consumers that before doing business with a financial services provider the consumer should:
- Make sure that the entity is lawfully entitled to conduct business in Washington. 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 31.04.035 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.
Washington 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.
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 (CFPB) at 1-855-411-CFPB (2372) or online at www.consumerfinance.gov.
- If the scammers already have your bank account information, social security number, or other personal information, you may be a victim of identity theft. You can contact your bank and the three major credit bureaus to take appropriate precautions. The FTC has information for victims of identity theft online at www.ftc.gov.
- If you feel you have been the victim of a 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 financial 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.