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Michigan regulator orders fake CU to cease and desist
LANSING, Mich. (9/22/10)--Michigan's Office of Financial and Insurance Regulation (OFIR) has ordered an entity claiming to be "Whitestone Credit Union" of Grand Haven, Mich., to cease and desist from doing business. There is no legitimate Whitestone CU, said OFIR. Officials said the entity's website, www.whitestonecreditunion.com and its telephone answering service was posing as a legitimate credit union and may have attempted to steal consumers' identity and funds (Grand Haven Tribune Sept. 21). The bogus credit union allegedly encouraged consumers to apply for loans and provide personal information such as financial account numbers and Social Security numbers. OFIR Commissioner Ken Ross said that scammers were posing as a legitimate credit union to obtain information used in identity theft. He encouraged consumers who believe they were scammed to contact the OFIR.


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