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D.C. Circuit Awards Navajo Nation $15.7 Million in Additional Annual ISDEAA Funding

by Holland & Knight LLP on

Court: Bureau of Indian Affairs Failed to Act in Timely Manner on Tribal Funding Proposal - The U.S. Court of Appeals for the District of Columbia Circuit on April 4, 2017, ruled that the Navajo Nation is entitled to...more

CFPB Wins Judgment Against Online Payday Lender in Lawsuit Alleging “Rent-a-Tribe” Scheme and Violations of State Usury Laws

by Goodwin on

On August 31, 2016, the Consumer Financial Protection Bureau (CFPB) obtained summary judgment against a California-based online payday lender, its individual owner, its subsidiary, and a servicer of its loans, which allegedly...more

Online Fast Cash Lenders to Pay $9 Million to Settle Claims of Illegal Lending to North Carolina Consumers

by Goodwin on

On June 21, 2016, the North Carolina Attorney General announced that two online fast cash lenders have agreed to pay more than $9 million in refunds for allegedly illegal loans issued to North Carolina consumers. The...more

Business Court Enjoins Enforcement Of High Interest Rate Loans Made By American Indian-Related Business

by Brooks Pierce on

Judge Gale's opinion last week in Western Sky in State v. Western Sky Financial, LLC, 2015 NCBC 84 has a little bit of everything in it: choice of law, the U.S. Constitution, claims for usury (excessive interest rates) and...more

FTC Settles With Payday Lenders for $21M Plus $285M in Waived Charges

Why it matters - Continuing the regulatory crackdown on payday lenders, the Federal Trade Commission (FTC) reached a proposed settlement with two lenders – AMG Services, Inc. and MNE Services, Inc. – for a $21 million...more

Lake of Torches Appellate Decision: "Management Contracts" Are Still a Burning Issue in Tribal Gaming Financings

by Bracewell LLP on

Earlier this week, the United States Court of Appeals for the Seventh Circuit upheld the Lake of Torches decision that invalidated a bond indenture as a "management contract" because it contained provisions that permitted...more

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