Saskatchewan regulator cautions consumers about loan firm

The Saskatchewan Financial Services Commission (SFSC) is cautioning consumers about an online credit agency purporting to offer loan proceeds upon the receipt of a signed acknowledgement and the remittance of a portion of an insurance policy premium to secure the loan amount.
Kenworth Solutions is allegedly operating out of Regina, Saskatchewan, the SFSC says in a release.
When consumers have inquired with Kenworth Solutions, they have been provided with various application forms along with a false licence issued by the “State of Saskatchewan” authorizing Kenworth Solutions to carry on business in North America, Europe, Asia and South Africa, the release continues.
“This is not a legitimate licence issued by the SFSC, and appears to have been developed to convince consumers of the company’s legitimacy,” it says.
Customers should be aware that Kenworth Solutions is not licensed by SFSC.