PDL's: Licensed or not?

Date: Wed, 04/12/2006 - 11:22

Submitted by apaverystar23
on Wed, 04/12/2006 - 11:22

Posts: 215 Credits: [Donate]

Total Replies: 2

On the Texas Department of Banking's website, they have a list of active "Money Services Businesses Licensees" in Texas. I'm not sure how this works in other states, but does this list mean that if a PDL company that loaned to me is not on this list then they may not be licensed to practice in Texas? Or does it just mean that although they can;t have an actual business in Texas, they can set up shop in another state and lend to people here? Confused....

IMO, either they should be licensed to lend money or have an age

IMO, either they should be licensed to lend money or have an agent in your state. They might be licensed as foreign entity also. I'm not sure about the exact working of the laws. You can contact the authority to know more about them. Also let us know if you receive any feedback.

BTW, can you mention the exact page where you found the information?

lrhall41

Submitted by stanley on Wed, 04/12/2006 - 11:55

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Not sure

I may not be alot of help- but I know that when I was searching to see if companies were liscensed in Texas, I emailed the Gracie Ruiz that is listed as a contact for questions. She directed me to another entity (I will sift thru and find out who) and said that they do not handle payday lenders thru this particular agency.

Crystal

lrhall41

Submitted by cmcdonald on Thu, 04/13/2006 - 09:57

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