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.