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News@lemmy.worldEnglish · 21 days ago

A Tribal Lender Charging 800% APR Has Agreed to Stop Operating in Minnesota

www.propublica.org

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A Tribal Lender Charging 800% APR Has Agreed to Stop Operating in Minnesota

www.propublica.org

🃏Joker@sh.itjust.works to

News@lemmy.worldEnglish · 21 days ago

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cross-posted to:
politics@sh.itjust.works

The Lac du Flambeau tribe of Wisconsin settled a civil suit filed by Minnesota’s attorney general that alleged its triple-digit interest rates violated state caps. The tribe is under increasing legal pressure nationally over its lending practices.

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21 days ago
settlement of a previous lawsuit and more info on their huge lending business:
https://www.wpr.org/news/lac-du-flambeau-tribal-leaders-and-lenders-reach-deal-in-class-action-lawsuit
https://www.propublica.org/article/wisconsin-lac-du-flambeau-tribe-predatory-lending-lawsuit-sovereign-immunity

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