Native American tribal payday lending continues to spark debate

more+
less-

[author: ]

Native American tribal payday lending is on the radar screens of the CFPB and the FTC, as reflected in recent comments from CFPB Director Richard Cordray and FTC Commissioner Julie Brill. More specifically, the agencies have been raising questions about the use of tribal immunity as a defense to state usury laws. In response, the tribal lending industry has defended the legitimacy of tribal immunity and highlighted the boost to economic development that internet lending has provided for individuals living on reservations. We think a recent article by Carter Dougherty provides a good primer on the debate surrounding tribal lending.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ballard Spahr LLP | Attorney Advertising

Written by:

more+
less-

Ballard Spahr LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×