News Column

Pennsylvania Banking and Securities Department Warns Consumers About Suspected Advance Fee Scams

July 26, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- The Pennsylvania Department of Banking and Securities is alerting the public about two advance fee loan scams being perpetrated under the names Norwalk Financing and Hudson Trust Financial Services.

Consumers who were solicited for these loans alerted the department's Office of Consumer Services when they inquired about the legality of loans advertised by these companies.

The companies solicited personal loans and asked for proof of income and other personal information. Additionally, one of the scams instructed consumers to wire an "insurance fee" to Canada, the other instructed consumers to load a pre-paid debit card as a "security deposit" on the advertised loan.

Norwalk Financing represents itself as a company whose address is 20 North 3(rd) Street, Philadelphia, Pa., and Hudson Trust Financial Services represents itself as a company whose address is 540 Pennsylvania Avenue, Fort Washington, Pa. Neither of these companies is licensed by the Pennsylvania Department of Banking and Securities to offer loans to consumers, as required by law.

Consumers and investors can make inquiries or file a complaint against any company or individual regulated or licensed by the Department of Banking and Securities online (www.dobs.state.pa.us) or by calling 1-800-PA-BANKS (800-722-2657).

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking and Securities

Pennsylvania Department of Banking and Securities

Keywords for this news article include: Banking and Finance, Finance and Investment, Investment and Finance, Pennsylvania Department of Banking and Securities.

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Source: Investment Weekly News


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