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Storefront payday lenders criticize online rivals for affiliating with Indian tribes

Elaine Thompson/The Associated Press

brand New customer Financial Protection Bureau has authority to manage payday industry

Introduction

A U.S. set of storefront payday loan providers is distancing it self from some online lenders that are payday saying they wish to avoid state legislation by partnering with Native America tribes.

“We abhor their methods,” Steven Schlein, a spokesman when it comes to Consumer Financial Services Association of America (CFSA), a bunch that represents bricks-and-mortar payday financing shops, told iWatch Information.

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