“Tribal Immunity” May No Longer Be a Get-Out-of-Jail Free Card for Payday Lenders

Payday loan providers aren’t anything or even imaginative in their quest to use away from bounds associated with legislation.

As we’ve reported before, an escalating wide range of online payday lenders have recently looked for affiliations with indigenous American tribes in order to make use of the tribes’ special status that is legal sovereign countries. This is because clear: genuine tribal companies are entitled to “tribal immunity,” meaning they can’t be sued. If your payday loan provider can shield itself with tribal resistance, it may keep making loans with illegally-high interest levels without having to be held in charge of breaking state laws that are usury. 继续阅读“Tribal Immunity” May No Longer Be a Get-Out-of-Jail Free Card for Payday Lenders