Despite having some of the toughest regulations prohibiting high-interest, short-term loans, New York has continued to face issues in the form of illegal online payday lenders who claim to have affiliation with Native American tribes. But those issues came a step closer to being resolved late last week when two American Indian tribes with online lending operations abandoned an effort to block the sate from restricting their businesses. [More]
They’re Gonna Get You
SCOTUS Decision Proves States Have Power Over Payday Lenders Claiming Tribal Affiliation
By 5.29.14
While a U.S. Supreme Court decision yesterday in the case of a Michigan Native American tribe’s allegedly illegal casino appears to have nothing to do with payday lending, experts say it’s a game changer in states’ efforts to rein in the often predatory industry. [More]
