The young man applied for a loan over the phone and was told he had been approved but would have to send in a fee before the money could be released to his bank account. Often, victims either never hear from these companies or are later told they're ineligible for the loan. With limited exceptions such as banks or credit unions, Florida law prohibits companies or individuals from charging a fee prior to making a loan. But these companies often operate out of Canada, making it difficult to find them and take legal action. So deal with a reputable bank, credit union or other business for your financial needs.
Consumers can file a complaint against the companies by calling the hotline.
A-Z Guide to Government Send mail to the Webmaster with questions or comments about this Web site.