Loan Scam Alert
Nov. 21, 2013
Banking and Securities Department Warns Consumers about Suspected Scam
Harrisburg – The Department of Banking and Securities is alerting the public about an advance fee loan scam being perpetrated under the name Northlawn Lending.
Over the Internet, Northlawn solicits personal and business loans, as well as debt consolidation services and refinancing.
Several consumers who were solicited for loans, but did not actually apply for loans, alerted the department when they called the department’s Office of Consumer Services to inquire about the legality of such loans.
Northlawn Lending represents itself as a company in Camp Hill, Pa. There is no such company located in Camp Hill or licensed by the Pennsylvania Department of Banking and Securities.
“Unfortunately, we are seeing more of this kind of activity as consumers use Internet search engines looking for financial assistance and end up on the websites of unlicensed operators,” said Secretary of Banking and Securities Glenn E. Moyer.
“I urge consumers to take steps to ensure that lenders soliciting them are properly licensed or chartered to do business in Pennsylvania,” Moyer said.
Consumers can call the Pennsylvania Department of Banking and Securities at 1-800-PA-BANKS (1-800-722-2657) or visit www.dobs.state.pa.us to make inquiries or file complaints against financial services providers.