23 Mar

The continuing future of Tribal Lending Underneath The Consumer Financial Protection Bureau

Hilary B. Miller

Some Indian tribes – specially impecunious tribes situated remotely from population facilities, without adequate traffic to engage profitably in casino gambling – are finding much-needed income from customer financing on the internet.

The tribe forms a tribal lending entity (TLE) that is financed by a third party in a typical model. The TLE then makes loans on the internet to consumers nationwide, often on terms which can be illegal beneath the interior laws and regulations associated with the continuing states where in actuality the borrowers reside. Read More