Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Oklahoma tribe agrees to pay $48 million to avoid prosecution in payday lending scheme

 


Two companies controlled by the Miami Tribe of Oklahoma have agreed to pay $48 million to avoid federal prosecution for their involvement in a lending scheme that charged borrowers interest rates as high as 700 percent.

As part of the Miami tribe's agreement with the federal government, the tribe acknowledged that a tribal representative filed false factual declarations in multiple state court actions.

http://newsok.com/article/5478088



 

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