Business | Law

Only nine complaints unresolved against tribal loan firms

Payday lending companies owned by tribes have been making headlines but regulators in Oklahoma say they have been able to informally resolve consumer complaints.

Due to sovereign immunity, the Oklahoma Department of Consumer Credit can't take enforcement action against tribes. But in the last fiscal year, only nine cases went unresolved, The Tulsa World reported.

That's a small percentage of the 2,000-plus complaints that the Better Business Bureau in Tulsa said it has received against tribal lenders. The complaints have targeted businesses owned by the Modoc Tribe and the Miami Nation.

Get the Story:
Regulators in dispute over internet payday loans by tribes (The Tulsa World 10/25)

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