Payday Lenders and Indians Evading Laws Draw Scrutiny
Payday Lenders and Indians Evading Laws Draw Scrutiny U.S. regulators and Congress are examining partnerships between Native Us citizens and outside investors in online payday lending organizations accused of exploiting tribal sovereignty to evade state consumer-protection rules. The push has split indigenous US teams, with experts of payday lending opposing tribal involvement in the firms, which charge rates of interest up to 521 per cent for short-term loans. Other Indian groups, created to express the nascent industry in Washington, are…