Feds Warn of Fake Bank

April 5, 2019

Businesses are reportedly receiving letters and faxes from an entity called “First National Bank” that is offering lines of credit and secured or long-term loans. But federal authorities are warning that First National Bank is “not a licensed or chartered bank.”

International warning sign

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The Office of the Comptroller of the Currency sent a notice to banks and other officials across the country Thursday warning that “First National Bank,” which claims to be from Minneapolis, is falsely claiming “to be a financial institution offering business banking services.”

The OCC has released a copy of First National Bank’s correspondence to one company. In the letter, First National Bank informs the business that it has prequalified for a $62,000 loan. The letter also promises to provide funding in as little as three days, as well as $25,000 to $350,000 in revolving credit, with no collateral required.

Authorities say First National Bank is using the fictitious address of 222 S. 9th Street in Minneapolis, as well as phone numbers such as (800) 491-0264 or (855) 414-9437.

The OCC is warning anyone who is contacted by the bank to not respond. For those who have, the OCC is providing a list of federal agencies to report any correspondence with the fictitious bank.