FTC files lawsuit against tribal-affiliated payday lending firms

Monday, April 2, 2012  

The Federal Trade Commission today filed a lawsuit against payday lending firms owned by three tribes, accusing them of engaging in illegal business tactics.

The firms are owned by the Miami Nation of Oklahoma, the Modoc Tribe of Oklahoma and the Santee Sioux Tribe of Nebraska. The FTC accuses the businesses, along with their non-Indian partners, of charging excessive fees to customers over the Internet.

The FTC says the tribes have claimed sovereign immunity after being sued by the state of Colorado. But the agency believes the tribes won't be able to do the same in response to a lawsuit by the federal government.

Get the Story:
FTC files suit against payday lending operation claiming tribal affiliation (The Denver Post 4/2)
FTC sues state tribes over payday lending practices (The Tulsa World 4/2)

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FTC accuses Indian payday loan company of unfair practices (03/07)
Tribes slam 'declaration of war' on online lending businesses (3/7)
Colorado lobbies Obama administration on tribal payday loans (3/6)
Judge issues amended ruling in tribal payday loan lawsuit (02/28)
Editorial: Consumers losing out in tribal payday loan battle (2/27)
Opinion: Tribal payday loan firms are a new online menace (2/27)
Opinion: Significant implications for payday loan decision (2/24)
Colorado authorities go after non-Indian in payday loan case (2/15)
Colorado judge backs immunity for tribes' payday loan firms (2/14)