Babaamaajimowinan (Telling of news in different places)

A Fight Between Native American Lenders And The Government Could Reach The Supreme Court

High interest lenders owned by Native American tribes could take their dispute with the federal government to the Supreme Court, in a case that would pit tribal sovereignty against consumer protection laws.

From their offices in Native American lands, the online lenders offer small loans at sky-high interest rates to people across the country. A $500 loan advertised by online lender Great Plains, owned by the Otoe-Missouria Tribe of Indians in Oklahoma, comes with an additional $686.66 in interest and fees to be paid back, on top of the $500 principal — equal to a 328% annual interest rate.

https://www.buzzfeed.com/matthewzeitlin/fight-native-american-payday-lenders-and-the-government?utm_term=.ggBV3B8Bn5#.yr43XPpPON

 

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