(Omaha World-Herald) -- The Nebraska Department of Banking and Finance warned Thursday against dealing with a company calling itself Penbrook Financial Group and giving a fictitious Omaha address. The department said Penbrook offers personal loans over the Internet and requires upfront "collateral payments" before making loans, usually $2,460 in four monthly payments. The company does not have an office at the address it lists, the department said, and Nebraska law prohibits lenders from requiring advance payments. The department said it is trying to shut down the company's Web site, which does not list a telephone number. The company could not be contacted for comment. People who have dealt with Penbrook should contact the department at 877-471-3445 or the Federal Trade Commission at 877-382-4357. Department analyst Karen Reynolds said people should be careful about making online loan applications that require personal information. Online lenders may try to bypass state law by claiming residence in a different state or may adopt the name of a legitimate business.
