This is a message from the Washington State Department of Financial Institutions
Ace Cash Services – Loan Collection Scam
06/10/2016 11:59 AM PDT
Friday, June 10, 2016
The Washington State Department of Financial Institutions (DFI) warns consumers that before doing business with a financial institution, company, or individual, they should make sure that the entity is properly licensed. Consumers are urged to verify licensing status prior to giving the financial institution, company, or individual any nonpublic personal information, such as social security number and checking account access.
DFI received a complaint from a Washington consumer who had received threatening emails from an entity claiming to be “Ace Cash Services.” It appears that this activity is a loan collection scam.
BE ADVISED, “ACE CASH SERVICES” SHOULD NOT BE CONFUSED WITH THE FOLLOWING COMPANIES LICENSED THROUGH THE DFI OR OTHER WASHINGTON STATE AGENCIES:
ACE AMERICA’S CASH EXPRESS
ACE CASH ADVANCE
ACE CASH EXPRESS, INC
ACE FINANCING LLC
ACE LENDING LLC
A consumer reported receiving a threatening email regarding a delinquent loan. The email came from collection.legal@ace-settlement.com and contained what appeared to be a case file number and past due amount. The email included language stating that if there was no payment from the consumer, “serious allegations” including violation of federal banking regulation, check fraud, and theft by deception were to proceed. The email further included threats that the consumer’s employer would be contacted. The consumer reported never obtaining a loan with the entity.
The following additional information was contained in the email:
Phone: 347-468-8964
Email address:
collection.legal@ace-settlement.com
Those perpetrating this scam are not licensed by DFI. This entity is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.
Payday Loan Debt Collection Laws
Collection activities are subject to the federal Fair Debt Collection Practices Act. Therefore, if you have questions regarding debt collection laws please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at www.ftc.gov.
Report Fraud
Washington State residents, if you are suspicious of unlicensed activity by a payday lender please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.
If you feel you have been the victim of a scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372) or online at http://www.consumerfinance.gov. If the scammers already have your bank account information, social security number, or other nonpublic information, you may be a victim of identity theft and you should take appropriate precautions. The Federal Trade Commission (FTC) has information for victims of identity theft available online at www.ftc.gov.
If you feel you have been the victim of a scam involving the internet please contact the Internet Crime Complaint Center online at www.ic3.gov.
If you feel you have been the victim of a financial scam and are concerned about your personal financial information, contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC’s website at www.ftc.gov.