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In 2011, Plain Green Loans issued over 121,000 loans. [2] Because the Chippewa Cree Tribe is a sovereign nation which enjoys tribal immunity, it is not subject to state laws which seek to prevent usury by regulating high-interest lending.
Some critics of short-term lending have alleged that American Indian tribes do not benefit from their lending businesses, and that the businesses are a loophole allowing "payday lending firms affiliating with Native American tribes and taking advantage of tribal sovereignty to offer loans online that would otherwise be blocked by many US state laws."
Top 4 Picks for No Credit Check Loan With Guaranteed Approval: #1. MoneyMutual: Overall Best for No-Credit-Check Loans #2. ... which means that it offers tribal loans, too. In other words, it has ...
"These internet tribal loans that are charging triple-digit interest rates are simply one of the most egregious forms of predatory lending," said Lauren Saunders, an associate director at the ...
The Native American Financial Services Association (NAFSA) says, “Tribal online lending provides a critical economic lifeline for sovereign tribes in remote areas, whether or not they engage in tribal government gaming. While many out-of-the-way tribal communities have developed gaming facilities as a way to create jobs and generate essential ...
Consider the following tips to avoid potentially damaging scams. 1. Unrealistic guarantees for approval. One of the easiest ways to spot a loan scam is the promise of guaranteed approval.
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