Mobiloans Note for Washington state residents Louisiana

Unlicensed Payday Loans

Updated: September 18, 2013

The Washington State Department of Financial Institutions (DFI) has received complaints against MobiLoans. It appears that this entity is operating as a tribal online payday lender. This entity states they are wholly owned by the Tunica-Biloxi Tribe of Louisiana, a federally-recognized Indian tribe. This entity asserts that it is not subject to regulation by DFI and that only the United States government has jurisdiction over federally recognized tribes and their business activities.

MobiLoans is 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. Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.