reaching a settlement

eyetwist

Online Lender Claiming Tribal Affiliation Must Refund, Cancel $11.6M In Payday Loans

For years, online lenders have claimed affiliations with tribal groups in order to skirt state laws related to short-term, high-interest loans. Today, the state of Minnesota came to a settlement over a years-long, so-called “rent-a-tribe” loan scheme with CashCall, ordering the lender to pay $11.6 million in relief to borrowers.  [More]