Hello,

Say..First Bank of Delaware does NOT have a license for Money Lending in South Dakota. Are they Illegal or not?? Reason I ask is that I have an installment loan with Think Cash..which is basically ran by First Bank of Delaware. It clearly states on the Division of Banking page for South dakota that even though a company doesn't need a physical presence to loan money..they need a license. Should I inquire to First Bank of Delaware about this or what?

Thanks.

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WDS

Actually, if in question, call your DFI @ (605) 773-3421. I do believe that installment type of loans need a license in ANY state in order to loan to your state residents, I could be wrong though, so, just in case, call your DFI.

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