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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."
The lenders invoke Fort Belknap's tribal sovereignty to shield them from responsibility for making illegal loans in Minnesota, the suit alleges. Indigenous nations have inherent sovereignty that ...
National Scheduled Tribes Finance and Development Corporation (NSTFDC) is an apex organization setup exclusively for economic development of Scheduled Tribes.This Corporation was incorporated as a Govt. Company under the Ministry of Tribal Affairs (MoTA) and granted license under Section 25 of the Companies Act, 1956 (now Section 8 of the Companies Act, 2013).
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