Date Posted: 
Tuesday, October 29, 2019

Alert Number: 051083_10/16/2019(10/20)
Originally posted: August 18, 2014
Updated: October 29, 2019

The Washington State Department of Financial Institutions (DFI) has received multiple complaints from Washington consumers against Turtle Mountain Band of Chippewa Indians of North Dakota doing business as Blue Chip Financial and Spotloan. One consumer reported Spotloan charged excessive interest rates, and failed to report accurate information to credit agencies. Another consumer reported that Spotloan has been calling the consumer and making threats related to collection of the loan repayment, as well as stating they would serve a notice at the consumer’s residence. DFI has not verified the allegations reported by consumers.

Spotloan claims to be a subsidiary of Blue Chip Financial, operated by the Turtle Mountain Band of Chippewa Indians of North Dakota, a federally recognized American Indian Tribe Located in North Dakota.

Turtle Mountain Band of Chippewa Indians of North Dakota and their subsidiaries are not licensed by the DFI, and are not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.

Turtle Mountain Band of Chippewa Indians of North Dakota and their subsidiaries have been associated with the following contact information:

Address: 914 Chief Little Shell Street NE, Belcourt, ND, 58316
P.O. Box 900, Belcourt, ND 58316
P.O. Box 720, Belcourt, ND 58316
P.O. Box 927 Palatine, IL 60078-0927

Phone: 888*681*6811

Website: []

E-mail: []

Please note Blue Chip Financial should not be confused with the following similarly named businesses:

Blue Chip Financial, LLC (Reinholds, PA)

  • Blue Chip Financial, LLC of Reinholds, PA would like consumers to know that they do not engage in any lending activities.

Blue Chip Financial Corp. (Melville, NY)

  • Blue Chip Financial Corp. of Melville, NY would like consumers to know that they are a Financial Services/Insurance Firm, and they do not offer credit or loans of any type.

Blue Chip Financial Services, Inc. (Redmond, WA)
Blue Chip Financial Advisors (East Providence, RI)
Blue Chip Financial, Inc. (Richardson, TX)
Blue Chip Financial (Bilingbrook, IL)
Blue Chip Financial (Stamford, CT)

DFI Warns Washington Consumers That Before Doing Business With A Financial Services Provider The Consumer Should:

  • Make sure that the entity is licensed. Consumers can use the “Verify a License” feature on DFI’s website at 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 Lenders Not Licensed In Washington

  • 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 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 and is 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 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 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, 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
  • 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; or the Consumer Financial Protection Bureau (CFPB) at 1-855-411-CFPB (2372) or online at
  • 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 take appropriate precautions. The FTC has information for victims of identity theft online at
  • If you feel you have been the victim of a scam involving the internet you can contact the Internet Crime Complaint Center online at
  • 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
  • If you live in another state, go to this webpage to find the regulator in your home state.