“Tribal Immunity” May No Longer Be a Get-Out-of-Jail Free Card for Payday Lenders
Payday loan providers aren’t anything or even innovative inside their quest to use outside of the bounds for the law. As we’ve reported before, a growing quantity of online payday lenders have recently desired affiliations with indigenous American tribes in order to make use of the tribes’ unique status that is legal sovereign nations. Associated with clear: genuine tribal companies are entitled to “tribal immunity, ” meaning they can’t be sued. If a payday loan provider can shield itself with tribal resistance, it could keep making loans with illegally-high rates of interest without having to be held responsible for breaking state laws that are usury.
Regardless of the emergence that is increasing of lending, ” there is no publicly-available study for the relationships between loan providers and tribes—until now. Public Justice is very happy to announce the book of a thorough, first-of-its type report that explores both the general public face of tribal lending together with behind-the-scenes arrangements. 继续阅读“Tribal Immunity” May No Longer Be a Get-Out-of-Jail Free Card for Payday Lenders