Phony Lending Company License
The Department of Business Oversight (DBO) has been notified that an entity called “Lending America, Inc.” is falsely claiming to be licensed by DBO. Lending America is not a DBO-licensed lending company.
Lending America, Inc,. also has been suspended by the Franchise Tax Board for failure to meet tax requirements (e.g. failure to file a return, pay taxes, penalties, interest).
Using a licensed lending company affords protections under state law related to disclosures, fees and terms of repayment, and provides consumers recourse when they have a dispute with the firm.
To check whether a lending company or other financial services provider is licensed, consumers should go to https://docqnet.dbo.ca.gov/licensesearch/ or contact the DBO at 1-866-275-2677.