F
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that lowered 500 FastCash's rating include:

240 complaints filed against business
Failure to respond to 40 complaints filed against business.
69 complaints filed against business that were not resolved.
Overall complaint history with BBB.
Government action(s) against business.
Business has failed to resolve underlying cause(s) of a pattern of complaints.
BBB does not have sufficient information to determine how long this business has been operating.
BBB does not have sufficient background information on this business.
Customer Complaints Summary
240 complaints closed with BBB in last 3 years | 87 closed in last 12 months
Complaint Type    Total Closed Complaints
Advertising / Sales Issues    13
Billing / Collection Issues    185
Problems with Product / Service    42
Delivery Issues    0
Guarantee / Warranty Issues    0
Total Closed Complaints    240
Additional Complaint Information

The complaints against this company and others located at the same address generally allege the inability to pay off the requested loan, charges to the consumer's checking or credit card account despite never receiving the requested loan, or continued unauthorized charges to the consumer's credit card or checking account once the loan has been paid off. On January 30, 2009 BBB sent a letter to the Chief of the Modoc Tribe concerning the pattern of complaints against this business. BBB did not receive a response from the Chief or a business representative concerning the pattern of complaints.

Complaint Details | Definitions | BBB Complaint Process | File a Complaint

Government Actions
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government's allegations, which have not yet been proven.

On April 2, 2012, the Federal Trade Commission filed an injunction in Federal Court to halt the practices of Tribally-owned Payday Loan Companies which work in conjunction with AMG Services. Payday loan companies associated with the Modoc and Miami Indian Tribes are among those named in court records. The FTC alleges that the head of AMG Services, Scott Tucker, used his partnerships with Indian Tribes to shield businesses from state laws.

Additional Information

500 FastCash is located at the same address as MTE Financial Services, Cash Advance Network, & Instant Cash USA. A subsequent BBB investigation determined that this address is the address for a Casino and Smoke Shop operated by the Modoc Indian Tribe. During its investigation of these companies, BBB employees visited the locations as well as sent a certified letter to the Chief of the Tribe asking for further information regarding these companies. Employees of the smoke shop and/or casino informed a BBB employee that they were unaware of any details regarding these companies. BBB has not received a response from the Chief concerning this matter. At the present time, BBB does not know if these companies are operated by the Tribe, by employees or other people using the Tribe's addresses, or is a joint venture between the Tribe and a for-profit company.

The complaints against this company and others located at the same address generally allege the inability to pay off the requested loan, charges to the consumer's checking or credit card account despite never receiving the requested loan, or continued unauthorized charges to the consumer's credit card or checking account once the loan has been paid off.

BBB has determined that this company is not licensed in the state of Oklahoma to provide loans to consumers and does not appeare to be licensed in any of the states from which consumers have filed complaints with BBB. However, if the Modoc Indian Tribe actually operates this business, it may not be subject to state laws regulating this industry.

BBB Investigation shows that this payday loan company is owned by the aforementioned Tribe. However, the loans are processed by AMG Services in Overland Park, Kansas. By entering into an agreement with the Tribe, AMG Services is able to process the loans outside the bounds of the state laws of Oklahoma. This means that if you obtain a loan from the company, it is not subject to interest rate/fee restrictions as required by the state laws of Oklahoma.

BBB encourages all consumers seeking loans of any kind to research all of their options before providing any private financial information or signing any loan papers. Consumers should check with the BBB on the company's grade, their complaint volume, and whether or not the company is licensed or regulated to provide the type of loan services the customer is seeking.

BBB file opened: 05/23/2007

http://www.bbb.org/tulsa/business-reviews/payday-loans/500-fastcash-in-miami-ok-38005696

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  I guess they got tired of toting AR15s and taking over BIM offices