indianz.com your internet resource indianz.com on facebook indianz.com on twitter indianz.com on Google+
ph: 202 630 8439
Native American Bank - Native people investing in Native communities
Advertise on Indianz.Com
Home > News > Headlines
Print   Subscribe
Indian-owned online lender enters settlement with Connecticut

Filed Under: Business | Law | Technology
More on: cheyenne river sioux, connecticut, internet, payday loans, south dakota
   

An Internet lender that was owned by a member of the Cheyenne River Sioux Tribe of South Dakota has reached a settlement with the state of Connecticut.

Martin Webb, the owner of Western Sky Financial, and CashCall, an affiliated business, agreed to pay $400,000 in fines. They will also repay excess interest to consumers who took about $5 million in loans when the company was still in operation.

"CashCall took advantage of Connecticut residents by charging wildly exorbitant interest rates on short-term loans, and the borrowers who fell victim to these illegal practices now have an opportunity to get back the money they overpaid,” Connecticut Department of Banking Commissioner Howard F. Pitkin said in a press release. “Borrowers won’t have to go it alone; the Department of Banking stands ready to help them make their claim.”

Webb was forced to shut down his operations last year after facing legal challenges from several states and the federal government. His business was not affiliated with his tribe.

Get the Story:
State Settles With Companies Charging 'Exorbitant' Interest Rates (The Hartford Courant 4/10)
State collects $5.4M for lending violations (The New London Day 4/10)


Copyright © Indianz.Com
More headlines...
Stay Connected:

Local Links:
Federal Register | Indian Gaming | Jobs & Notices | In The Hoop | Message Board
Latest News:
Native Sun News: Tribe threw away late veteran's memorabilia (10/31)
Mark Trahant: The Native vote could decide the 2014 election (10/31)
NCAI investigates conduct of treasurer at annual convention (10/31)
Former chairman of Chippewa Cree Tribe faces more charges (10/31)
Native Sun News: Oglala Sioux officer rejoins Rapid City police (10/30)
Mark Trahant: Native voters must be prepared on election day (10/30)
Kevin Gover: Mascot fight exposes myths about Native people (10/30)
Northern Arapaho Tribe: Newspaper got it wrong on joint council (10/30)
Peter d'Errico: Kevin Washburn honored by Indian law students (10/30)
Chris Deschene still urging Navajo Nation voters to choose him (10/30)
Tribes in North Carolina back Democrat Sen. Hagan in tight race (10/30)
NWPR: Tribes take steps to control growing herds of wild horses (10/30)
Opinion: Helping the Tongva people revive their own language (10/30)
Judge grants injunction to keep Chukchansi Tribe casino closed (10/30)
Tribes in South Dakota would benefit from gaming referendum (10/30)
Employee at Puyallup Tribe's casino gets wedding ring returned (10/30)
Editorial: Keep tribal casinos in California on existing Indian land (10/30)
Column: Menominee Nation off-reservation casino goes ignored (10/30)
Quapaw Tribe faces competition for Kansas commercial casino (10/30)
Native Sun News: Montana tribe sees cut in heating assistance (10/29)
Mark Trahant: Alaska Senate race is a real test of Native policy (10/29)
Winona LaDuke: Taking treaty advice from indigenous nations (10/29)
Vena A-Dae Romero: FDA failing to consult tribal governments (10/29)
Zachary Pullin: Native Americans overcame barriers to voting (10/29)
Navajo Nation president vetoes bill to address language issue (10/29)
Prairie Island Indian Community sues over nuclear waste rule (10/29)
County's letter on CSKT water compact talks stirs controversy (10/29)
Vice: Hip-hop artist Drezus on new journey after jail sentence (10/29)
Opinion: Overcoming stereotypes of Native American culture (10/29)
Charges sought in dispute at Chukchansi Tribe's closed casino (10/29)
Pechanga Band chair featured in ads against North Fork casino (10/29)
Grand Ronde Tribes continue fight against Cowlitz Tribe casino (10/29)
Puyallup Tribe offers reward for return of casino worker's ring (10/29)
Ask the Expert: Why can't I win at tribal casino slot machines? (10/29)
Native Sun News: Event commemorates Sand Creek Massacre (10/28)
Erma Vizenor: Join tribes for protest at NFL game in Minnesota (10/28)
Bill John Baker: Cherokee Nation helps build tomorrow's leaders (10/28)
Ruth Hopkins: Tribes need to raise awareness of breast cancer (10/28)
Navajo Nation election officials refuse to delay upcoming vote (10/28)
Senate candidates battle for Indian vote in South Dakota race (10/28)
Eastern Shawnee Tribe lays claim to former reservation in Ohio (10/28)
more headlines...

Home | Arts & Entertainment | Business | Canada | Cobell Lawsuit | Education | Environment | Federal Recognition | Federal Register | Forum | Health | Humor | Indian Gaming | Indian Trust | Jack Abramoff Scandal | Jobs & Notices | Law | National | News | Opinion | Politics | Sports | Technology | World

Indianz.Com Terms of Service | Indianz.Com Privacy Policy
About Indianz.Com | Advertise on Indianz.Com

Indianz.Com is a product of Noble Savage Media, LLC and Ho-Chunk, Inc.