10/16/2023 | News release | Distributed by Public on 10/16/2023 16:49
Alert number: CA056727_10.06
The Washington State Department of Financial Institutions (DFI) has received several complaints from Washington State consumers against Brockport Lending Group. These complaints alleged that customers invested with this company's online currency investment platform but when they tried to collect these funds they were unable to do so. Some customers were instructed to send more money to "pay taxes" in order to release these funds, but ultimately would not receive the funds they invested or alleged profits.
Brockport Lending Group is not licensed to offer any sort of consumer loan in Washington State by the Department, by WA State Department of Licensing, by WA State Department of Revenue, or by the WA State Secretary of State.
Brockport Lending Group has operated various websites in the past and claimed to have an office in Seattle, but does not currently have an active online presence. Consumers report having been approached or being referred to this service by peers, and it appears the company is deliberately targeting minority and/or immigrant communities.
Brockport Lending Group should not be confused with other similarly named but entirely separate businesses, such as Brockport Federal Credit Union (NMLS # 577502), or Brockport Financial Services in Canada.
DFI warns Washington consumers that before doing business with a financial service provider the consumer should:
Washington State residents only: If you suspect unlicensed activity by a payday lender or consumer loan company, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. Even if your activity involves a loan over the internet, a license may still be required.
If you live in another state, find the regulator in your home state.