Finance & Banking Indigenous Peoples General Business

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CFPB Online Loan Suit Sent to California

In the most recent development in the CFPB’s two-year-old lawsuit alleging unfair, deceptive, and abusive practices by several online lenders, on September 23, 2015, Massachusetts U.S. District Judge George O’Toole, Jr.,...more

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

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

Despite Changing Economic Reality, Federal Court Holds Indian Tribes Have Sovereign Immunity in Bankruptcy, Absent Waiver

As the Indian gaming industry continues to thrive, Indian tribes are increasingly engaging in other commercial endeavors including banking, construction, energy, telecommunications, manufacturing, retail and more. Based on a...more

Drilling Down on Transparency: Quebec Introduces Bill Requiring Reporting For Mining, Oil & Gas Industries

On June 11, 2015, Quebec’s Minister for Mines introduced a bill before the Quebec National Assembly that proposes to impose mandatory reporting requirements on businesses operating in the mining and oil and gas sectors. The...more

Alaska Legislature Approves Lower Quorum Requirements for Alaska Native Corporations

The Alaska state legislature recently passed a bill reducing quorum requirements for certain Alaska Native Corporations at their annual shareholder meetings. Under HB 149, which is expected to be signed into law by Alaska...more

Week in Review - March 2015 #4

House Republican Budget - The budget outline House GOP leaders released Tuesday proposes $2 billion in tax cuts as part of their two-year budget plan. It also spends nearly $40 billion, excluding their recently...more

California Appellate Court Holds State Regulators Lack Authority To Regulate Tribe-Affiliated Lenders

On January 21, the California Court of Appeal, Second District, held that short-term, small-dollar credit businesses owned by certain federally recognized Indian tribes are sufficiently related to their respective tribes to...more

Tribal Sovereign Immunity Protects Payday Lenders From State Enforcement

Last year, the Commissioner of Business Oversight issued several alerts warning consumers that it has received complaints with respect to unlicensed firms offering payday (deferred deposit) loans in California. The common...more

CFPB files amicus brief in NY tribal payday lending case; update on CIDs issued to tribal lenders

The CFPB has filed an amicus brief in the U.S. Court of Appeals for the Second Circuit in The Otoe-Missouria Tribe of Indians et al. v. New York Department of Financial Services et al., a case stemming from New York’s...more

States and Consumers Battle Tribal Payday Lenders

The tribal payday lending business finds itself facing a flurry of class action lawsuits and state crackdowns painting the lenders as loan sharks preying upon vulnerable consumers with usurious rates and fees. The tribal...more

CFPB Rejects Tribal Lenders’ CID Challenge

On September 26, the CFPB denied three tribal lenders’ joint petition to set aside civil investigative demands (CIDs) issued in June 2012. The CIDs were issued in connection with the Bureau’s investigation into several...more

New York Continues Payday Loan Crackdown

The New York Department of Financial Services (DFS) may take direct and indirect actions against online tribal lenders, Judge Richard Sullivan of the Southern District of New York held in a ruling last week. The decision is...more

CFPB Denies Payday Lender’s Petition to Set Aside Civil Investigative Demand

The CFPB denied two online payday lenders’ petition to set aside a civil investigative demand. The lenders claimed they are chartered under the laws of federally recognized Indian tribes and therefore, the CFPB’s...more

FTC Files Amicus Brief In Tribal Payday Lending Case

On September 26, the FTC announced that it had filed an amicus brief in the U.S. Court of Appeals for the Seventh Circuit in a class action suit against a Native American payday lender. In that case, the putative class is...more

CFPB denies petition by tribal payday lenders to set aside CIDs

On September 26, the CFPB issued a 10-page order denying a petition filed jointly by three tribal payday lenders that asked the CFPB to set aside the civil investigative demands (CIDs) the lenders received from the CFPB. The...more

Federal Court Finds No Duty to Consult Aboriginal Group on Investment Treaty

On August 26, in Hupacasath First Nation v. Minister of Foreign Affairs, the Federal Court held that the Government of Canada has no constitutional duty to consult the applicant First Nation prior to ratification of the...more

Lenders Pushback on New York’s Efforts to Curb Payday Lending

Members of tribal nations filed a complaint in the United States District Court for the Southern District of New York against the New York State Department of Financial Services in response to the its attempt to shut down...more

New York Seeks To Halt Online Payday Loans, Collections; Federal Agencies Issue Subpoenas

On August 6, the New York Department of Financial Services (DFS) sent letters to 35 online lenders, including lenders affiliated with Native American Tribes, demanding that they cease and desist offering allegedly illegal...more

Georgia Attorney General Latest To Sue Tribe-Affiliated Online Payday Lender

On July 29, Georgia Attorney General (AG) Sam Olens announced a lawsuit against a payday lending operation affiliated with a Native American Tribe for allegedly making illegal loans in that state....more

Magistrate Judge Finds Tribal Payday Lender Subject To FTC Act; Lender Agrees To Settle Some FTC Charges

On July 22, the FTC announced that it obtained a partial settlement of claims it filed last year against a Native American Tribe-affiliated payday lending operation that allegedly charged undisclosed and inflated fees, and...more

Gaming Legal News - May 23, 2013 • Volume 6, Number 12

In This Issue: - NINTH CIRCUIT DEMANDS INTERIOR EXPLAIN GLENDALE TRUST DECISION: The U.S. Court of Appeals for the Ninth Circuit has required the Secretary of the Interior to reconsider a decision to accept an...more

CFPB highlights collaboration with tribal governments

A recent CFPB blog post warning Native Americans receiving payments from the settlement in Cobell v. Salazar that they could be targeted by scammers also highlights the CFPB’s collaboration with tribal governments....more

Gaming Legal News - August 23, 2012 • Volume 5, Number 19

In This Issue: - TRIBAL CASINO BANKRUPTCIES – THE TRAIN IS LEAVING THE STATION by Dennis J. Whittlesey: There long has been a legal debate as to whether businesses owned and operated by Indian tribes could either...more

Glossary of Indian Tribal Finance Terminology

Introduction Discussions about borrowing money can be confusing. Bankers, lawyers and other industry professionals use terminology that is widely understood within the business but which is not a part of everyday...more

The 2012 IFC Performance Standard on Indigenous Peoples: What's the Fuss?

The new IFC Environmental and Social Performance Standards -- in particular, Performance Standard 7 on indigenous peoples -- present a range of management and operational challenges for certain companies. For the first...more

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