Banking Department Says Tribal Payday Lending Companies Don't Have Sovereign Immunity

Connecticut’s Department of Banking has concluded that two payday lending companies owned by the Otoe-Missouri Tribal Nation are not protected by sovereign immunity and can be pursued by the department for violating Connecticut’s lending laws.

Banking Commissioner Jorge Perez concluded on May 6 that the two companies, Great Plains and Clear Creek, are not arms of the tribe and that its Chief John Shotton “does not have tribal sovereign immunity from either the financial penalties or prospective injunctive relief.”

http://www.ctnewsjunkie.com/archives/entry/banking_department_says_tribal_payday_lending_companies_dont_have_sovereign/