Tag Archives: tribes

TLE: Tribe Lending Enterprise – Term Sheets, Tribe Resolution, Pro Forma, Marketer/Servicer Agrrement

Tribe Sovereign Nation Documentation, Term Sheets & More Do you need documents to form a tribe installment. payday. line-of-credit or car title loan company Continue reading

Fewer Companies Settle with CFPB

The Business of Lending is the Oldest Pofession. The Wall Street Journal [which I have appeared in on several occassions] ran an interesting piece on the CFPB Continue reading

Tribe Sovereign Status at Risk? WikiLeaks?

By: Jer Ayles at Trihouse Consulting. 702-208-6736 There’s an interesting “Conversation” written by Matthew Fletcher Professor of Law & Director of the Indigenous Law & Policy Center, Michigan State University. Continue reading

Connecticut: Tribe Payday Loan Lender May Continue

PayDay Loan Ruling: Connecticut Sovereign Nation Status The state of Connecticut’s banking department must decide whether to appeal a ruling that appears to allow an Oklahoma Indian tribe to continue to offer payday loans in Connecticut. The Otoe Missouri Tribal Nation brought a lawsuit claiming tribal sovereignty protects it from Connecticut usury rate enforcement, after the Connecticut banking department determined the  Otoe Missouri Tribal Nation  had violated state loan laws. Continue reading

Native American Sovereignty & Payday Loans

Payday Loan Lending via Native American Tribes The Native American Financial Services Association (NAFSA) formed in 2012 to advocate for Native American sovereign rights and enable tribes to offer responsible online lending products appeared today before the House Financial Services Committee to defend the rights of tribes to employ e-commerce to offer consumers payday loan products. Their efforts are directed toward the CFPB proposed lending rules about to be published. These rules appear to be a heinous attack against consumers in need of financial services choices and payday loan lenders. Continue reading

Tribe Payday Loans & Arbitration Agreements

It’s been legally established that federally recognized Native American Indian Tribes funding payday loans are entitled to their own laws and legal systems and generally don’t necessarily have to follow state or even federal laws. [There are exceptions such as TILA…] The payday loan lender Cheyenne River Sioux stipulate in their loan contract: “According to the contract, any dispute connected to loan collection would have to be submitted to an arbitration conducted by the tribe or an authorized representative in accordance with the tribe’s consumer dispute rules.”  Another provision said that, “At the borrower’s choice, the American Arbitration Association or Judicial Arbitration and Mediation Services could administer the arbitration.” However, some courts have determined that the Cheyenne River Sioux did not create, nor employ, a consumer arbitration process nor have anyone assigned to perform these arbitrations Continue reading

Tribe Business Enterprise Payday Loan Legal Update

If you have a serious interest in the tribe sovereign nation lending model , READ THESE. There are two. Continue reading