Tribe-Owned Pay-Day Lender Loses Bid for Immunity

MANHATTAN (CN) – An online lending company owned by the Chippewa Cree cannot invoke tribal immunity to block claims that it charged two Vermonters usurious interest rates, the Second Circuit ruled.

Invoking the 1908 U.S. Supreme Court decision Ex parte Young, the federal appeals court said an analogous theory “protects a state’s important interest in enforcing its own laws and the federal government’s strong interest in providing a neutral forum for the peaceful resolution of disputes between domestic sovereigns, and it fairly holds Indian tribes acting off-reservation to their obligation to comply with generally applicable state law.”

https://www.courthousenews.com/tribe-owned-pay-day-lender-loses-bid-for-immunity/