without a doubt about customer Finance Enforcement Watch

without a doubt about customer Finance Enforcement Watch

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

the buyer Financial Protection Bureau (CFPB) obtained summary judgment against a California-based online payday loan provider, its specific owner, its subsidiary, and a servicer of the loans, which allegedly used a “rent-a-tribe” scheme to prevent state usury and licensing regulations in breach for the customer Financial Protection Act.

Based on the CFPB’s federal lawsuit , the business joined as a financing contract having a tribal entity owned by a part of an indigenous United states Reservation. Continue reading “without a doubt about customer Finance Enforcement Watch”