Category Archives: quick cash installment loans

“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 within their quest to work outside of the bounds of this law. As we’ve reported before, an escalating quantity of online payday lenders have recently looked for affiliations with indigenous American tribes in order to use the tribes’ unique status that is legal sovereign countries. Associated with clear: genuine tribal companies are entitled to “tribal immunity,” meaning they can’t be sued. If a payday loan provider can shield it self with tribal resistance, it may keep making loans with illegally-high rates of interest without getting held responsible for breaking state usury legislation. Continue reading