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Is Spot Loans a illegal payday loan company in Kansas

Date: Tue, 04/09/2013 - 13:40
Submitted by on Tue, 04/09/2013 - 13:40
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I was wanting to know if www.spotloans.com is a legal payday loan company they are Spotloan℠ is a brand owned by BlueChip Financial, a tribally-owned entity organized under and governed by the laws of the Turtle Mountain Band of Chippewa Indians of North Dakota, a federally recognized Indian Tribe. BlueChip is located on and operates within the Tribe’s reservation. All loans are subject to credit approval. This is what the website says. Please let me know thanks


If you had read any of the information in the payday loan forum you would have easily figured out for yourself that all tribal loans are illegal.


Submitted by SOAPLADY on Tue, 04/09/2013 - 16:19

SOAPLADY

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The OP is asking about KS not KY!!! and the rule applies for both states - All lenders lending to residents of either have to be licensed in the state - storefront or online.. So if an online lender is licensed then they are legal.. The info that SOAPLADY gave was the correct info - being that they are tribal - highly unlikely legal.. if you want to check though -

for KS - Office of the State Bank Commissioner - http://www.osbckansas.org/
for KY - Kentucky Office of Financial Institutions - http://www.kfi.ky.gov/Pages/default.aspx


Submitted by HelpinAZ on Wed, 07/03/2013 - 07:36

HelpinAZ

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i was too late in deleting,but it was deleted helpinaz.tired of unregisterds who just post to post.


Submitted by paulmergel on Wed, 07/03/2013 - 07:44

paulmergel

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