Tribal payday advances direct loan providers. Fights over tribal payday lenders expose challenges of financial reform
Fights over tribal payday lenders expose challenges of financial reform
Some high-interest payday loan providers are finding not likely allies: indigenous American tribes within the battle to shield by themselves from legal actions and federal government oversight.
State regulators and client lawyers state that the lender-tribe marriages are ruses developed to allow non-Native US businesses to skirt guidelines which can be consumer-lending.