Payday Lending: Boon or Boondoggle for Tribes? Earlier in the day this week, the Washington Post published a fascinating piece profiling the Lac Vieux Desert Band of Lake Superior Chippewa Indians, a tiny Native American tribe that fundamentally went in to the pay day loan business in a pursuit of much-needed money for tribal federal government. But exactly what the content does not point out is the fact that some payday that is supposedly“tribal aren’t really run by—or for the power of—an real tribe.
Indigenous tribes that are american sovereign countries as well as in some circumstances are immune from obligation under state legislation.
It’s the vow of a crazy West without any federal government legislation and outside of the reach for the civil justice system that features drawn loan providers into the “tribal sovereign” model.
An increasing wide range of privately-controlled organizations are affiliating on their own with tribes so that you can make use of the tribes’ sovereign immunity from state law—a trend that threatens the liberties of both tribes and customers. Public Justice is borrowers that are representing by unlawful payday advances and working to reveal these “rent-a-tribe” arrangements and make sure that lenders may be held accountable if they break what the law states.