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CT ruffles feathers that are tribal online loan ban that is payday

CT ruffles feathers that are tribal online loan ban that is payday

CT ruffles tribal feathers with online loan ban that is payday

Editor’s Note: On Friday, on a daily basis following this story went along to press, the Oklahoma tribe and its particular president filed an appeal in Connecticut state court.

Connecticut recently slammed the doorway on an Oklahoma Indian tribe’s attempts to ply needy residents with ultra-high-interest “payday loans” via the web, a move who’s got exposed a fresh portal towards the https://cartitleloans.biz/payday-loans-il/ appropriate debate over whether or else maybe not Indian tribes must follow state consumer-lending legislation.

In just one of their final functions before retiring as state banking commissioner, Howard F. Pitkin on Jan. 6 offered an opinion that tagged as baseless claims because of the Otoe-Missouria tribe and its own tribal president so that it has “tribal sovereignty” to grant loans for less than $15,000 with interest of 200 percent to 450 per cent, even though such personal lines of credit violate state legislation. Read More

CT ruffles feathers that are tribal online loan ban that is payday CT ruffles tribal feathers with online loan ban that is payday Editor’s Note: On Friday, on a daily basis following this story went along to press, the Oklahoma tribe and its particular president filed an appeal in Connecticut state court. Connecticut recently slammed […]

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