Babaamaajimowinan (Telling of news in different places)
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.
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