Court Choice Signals End of Faux Tribal Payday Lending
Washington – The Second Circuit Court of Appeals in a choice today against Think Finance together with officers of Plain Green Loans has made magnificent that online tribal payday loan providers must conform to state rate of interest restrictions, licensing laws and regulations along with other state legislation, and may be sued through their officers for injunctive relief if they try not to.
“This choice appears the death knell for tribal payday lending,” said Lauren Saunders, connect manager of this nationwide customer Law Center.
“The faux tribal payday financing model has been on the basis of the mistaken belief that payday loan providers could evade state laws and regulations by hiding behind indigenous American tribes. Read more
