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Payday Loan Mogul Trades Ferrari-Racing Life for Prison Term

Scott Tucker says he’s a pioneering self-made man who, without a college degree, founded successful businesses in a variety of fields and contributed billions of dollars to the U.S. economy. A judge says he’s an unrepentant fraud and sentenced him to almost 17 years in prison.

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Payday Loans

5/16/2018

article A Lawyer for Payday Lenders Is Confirmed for F.T.C. Job
(Washington D.C.) -- The new director of the Federal Trade Commission’s consumer protection unit, a watchdog with broad investigative powers over private companies...
article Bankshot: The real fight over CFPB's payday rule is just beginning
(Washington D.C.) -- Congress has lost its chance to toss out the Consumer Financial Protection Bureau’s payday lending rule, but bigger fights over the rule...

5/13/2018

article Ex-Google Exec's Co. Accused Of 'Rent-A-Tribe' Loan Scheme [sub req]
(North Dakota) -- A former Google executive and his financial technology company worked with a North Dakota tribe so they could hide behind its sovereign immunity while...

4/22/2018

article Court rules in favor of credit reporting agency Clarity in wrongful disclosure claim
(California) -- Consumer reporting agency Clarity Services, Inc. has been granted summary judgment in a case that alleged it was in violation of the Fair Credit...

4/14/2018

article Tribal lenders worried about 'mixed signals' from Trump administration
(Washington D.C.) -- Tribal lenders cheered when the Trump administration started taking the Consumer Financial Protection Bureau (CFPB) in a new direction but an appeal...

4/11/2018

article Appeal could jeopardize CFPB win in landmark tribal sovereignty case
(Washington D.C.) -- Online lender CashCall filed a notice of appeal Tuesday in a Consumer Financial Protection Bureau enforcement action that set precedent on whether...
article Mick Mulvaney Defends Enforcement Record, or Lack Thereof, at CFPB
(Washington D.C.) -- In the nearly six months since White House budget director Mick Mulvaney took over the Consumer Financial Protection Bureau, the agency has...

4/9/2018

article LEGAL BLOG: Third Circuit Finds Agreement To Arbitrate Unenforceable Because Arbitration Was Directed To An Illusory Forum
(USA) -- Where a Loan Agreement’s arbitration provision stated disputes “will be resolved by Arbitration, which shall be conducted by the Cheyenne River...

4/4/2018

article Bankrupt Payday Lender Can't Move Pa. AG's Suit To Texas [sub req]
(Pennsylvania) -- Think Finance LLC, a financial technology firm that critics say uses Native American tribes to skirt payday lending laws, failed to convince a...

3/30/2018

article Head of CFPB Won’t Sue in Payday Loan Collector Case
(USA) -- Mick Mulvaney, who serves as interim head of the Consumer Financial Protection Bureau (CFPB), has opted not to pursue a lawsuit against a payday loan collector...
article Senators urge CFPB not to reconsider payday loan rule
(Washington D.C.) -- A group of Democratic senators (joined by two independent Senators) has sent a letter to Leandra English and Mick Mulvaney urging them to abandon...

3/23/2018

article Trump official quietly drops payday loan collector case and considers spiking others: Sources
(Washington D.C.) -- The top cop for U.S. consumer finance has decided not to sue a payday loan collector and is weighing whether to drop cases against three payday...

3/19/2018

article Judge dismisses some of AG Shapiro's 'rent-a-bank' lawsuit
(Pennsylvania) -- The U.S. District Court for the Eastern District of Pennsylvania has dismissed some claims filed by Pennsylvania Attorney General Josh Shapiro related...

3/13/2018

article 'Rent-A-Tribe' Businessman Can't Get Out Of Usury Suit
(Virginia) -- A Virginia federal judge on Monday refused to toss a suit against a central player in an alleged “rent-a-tribe scheme” involving an online...

3/6/2018

article Montana Court Refuses to Shift Venue of “Related to” CFPB Police Action to Texas Bankruptcy Court
(Montana) -- On February 6, 2018, the District Court for the District of Montana refused a debtor’s request to change the venue of a post-petition “related...

3/5/2018

article RICO suit filed against Great Plains Lending over allegations of predatory online lending scheme
(North Carolina) -- Three consumers allege that they were the victims of online payday lending schemes that attempted to circumvent federal law by issuing loans under...

3/2/2018

article 3rd Circuit holds payday lender’s arbitration clause unenforceable
(USA) -- On February 27, the U.S. Court of Appeals for the 3rd Circuit held that an arbitration clause is unenforceable if the corresponding forum selection provision...

2/28/2018

article 3rd Circuit rejects forced arbitration of CashCall lawsuit
(New Jersey) -- A New Jersey man who filed a proposed class action against online lender CashCall does not have to submit the dispute to arbitration because CashCall...

2/16/2018

article Feds fine U.S. Bancorp $613 million for failing to guard against money laundering
(New York) -- U.S. Bancorp has agreed to pay the federal government $613 million to settle criminal charges that it did not guard against money laundering in its...
article U.S. Bank hit with $613 million penalty related to Scott Tucker banking relationship
(New York) -- The wreckage of Scott Tucker’s payday loan empire has now reached one of the largest North American banks with federal prosecutors announcing...
article Ferraris, homes, jewelry in play in KC payday loan case as judge seeks $3.5 billion
(Kansas) -- A federal judge appears likely to enter a forfeiture order of $3.5 billion against convicted felon Scott Tucker of Leawood, Kan., as part of his sentence for...

2/12/2018

article Local and national leaders speak out against payday lenders
(New Orleans) -- Sen. Jeff Merkley (D-Ore) and the Rev. Willie Gable, Jr. of Progressive Baptist Church in New Orleans believe the Consumer Financial Protection Bureau (...
article RADIO: Trump Administration Plans To Defang Consumer Protection Watchdog
(USA) -- The Consumer Financial Protection Bureau was created after the financial crisis to protect Americans from being ripped off by financial firms. Now, President...

2/1/2018

article House advances 'hillbilly venture capital' bill pushed by payday loan industry
(Indiana) -- The Indiana House on Wednesday evening voted to approve a bill favored by the payday loan industry that advocates say would allow people with poor credit...

1/27/2018

article KC payday lending king will star in Netflix documentary
(Kansas) -- Scott Tucker is known locally as a Leawood businessman best known for building a payday lending empire to a second career as a race car driver. Recently, he...
article HILTZIK: A slap on CashCall's wrist signals there's no downside to deceiving borrowers
(California) -- Los Angeles U.S. District Judge John F. Walter minced no words last August when he lowered the boom on CashCall and its high-interest-rate lending to...

1/25/2018

article Major bank anticipates paying a penalty over relationship with Scott Tucker
(Kansas) -- U.S. Bank expects it will have to pay a penalty related to its banking relationship with recently convicted Leawood payday loan businessman Scott Tucker. U.S...
article Court Awards $10 Million Penalty Against Payday Lender, Rejecting CFPB’s Request for $280 Million in Restitution and Penalties
(California) -- In August 2016, the U.S. District Court for the Central District of California granted partial summary judgment to the Consumer Financial Protection...
article Ohioans could vote to rein in payday lenders -- again
(Ohio) -- Ohio consumer advocates fed up with the legislature's inaction on payday loan reforms say they're going to take the issue to voters in November.

1/24/2018

article Judge orders $10 million in penalties against payday lender
(California) -- On January 19, a federal judge for the U.S. District Court for the Central District of California ordered an online loan servicer and its affiliates to...

1/23/2018

article CFPB drops probe into lender that gave to Mulvaney’s campaigns
(Washington D.C.) -- The Consumer Financial Protection Bureau has dropped a probe into an installment lender that had been accused of trying to profit from repeat...
article EDITORIAL: Don't Let Payday Lenders Off the Hook
(Indian Country) -- The acting director of the Consumer Financial Protection Bureau, Mick Mulvaney, appears to have identified one of the first services he will free...
article Newly Defanged, Top Consumer Protection Agency Drops Investigation of High-Cost Lender
(Washington D.C.) -- In the latest sign that the Consumer Financial Protection Bureau is pulling back from aggressive enforcement, it dropped an investigation triggered...

1/22/2018

article Feds drop action against payday lenders with local ties
(Kansas) -- The Consumer Financial Protection Bureau pulled a legal action filed last year against four payday loan companies with ties to Kansas.

1/21/2018

article Trump administration signals major changes for tribal lending industry
(Washington D.C.) -- Indian Country advocates are cheering the Trump administration for dropping a case that targeted the tribal lending industry. With little fanfare,...

1/18/2018

article CFPB Signals Shift by Dropping Payday Lender Lawsuit
(Washington D.C.) -- The Consumer Financial Protection Bureau is dropping a lawsuit against a group of payday lenders associated with an American Indian tribe in a sign...
article Mulvaney requests zero funding for the Consumer Financial Protection Bureau
(Washington D.C.) -- In his first quarterly funding request as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney is asking for nothing. "...
article Trump And Lawmakers Got Cash From Payday Lenders, Then Weakened Lending Rules
(Washington D.C.) -- Less than two months after President Donald Trump tapped his budget director to run the independent federal agency tasked with protecting U.S....

1/16/2018

article BLOG: Does Tribal Lending Have A Future?
(USA) -- Scott Tucker’s pre-sentencing “apology” will not likely be remembered as one of history’s greatest all-time allocutions of contrition....

1/9/2018

article BLOG: The End for "Rent-A-Tribe" Payday Lending Schemes?
(Connecticut) -- This month, Scott Tucker, an online payday lender who used his billions in proceeds to fund his auto racing dreams, including buying a $1.3 million...
article Scott Tucker, part-time Aspenite and homeowner, sentenced to 16 years
(Kansas) -- Scott Tucker, the part-time Aspen resident who allegedly bought a Park Avenue home through a $3.5 billion payday lending operation, was sentenced Friday to...

1/8/2018

article Payday lending king, lawyer receive prison sentences
(Kansas) -- The Leawood businessman who rode a payday lending empire to a second career as a race car driver will be making a long pit stop in prison. U.S. District...

1/7/2018

article Plain Green settles with BEH over loan lawsuit
(Montana) -- Plain Green LLC, the Chippewa Cree Tribe's online lending company has reached a settlement with BEH Ltd., a Florida-based gaming venture in a...

1/6/2018

article American Le Mans champion sentenced to 16 years in prison over lending scheme
(Kansas) -- Four-time American Le Mans Series champion Scott Tucker was sentenced to 16 years and eight months in prison on Friday for crimes related to a payday lending...

1/5/2018

article Chippewa Cree Lender Settles Lawsuit Over Unpaid Loan
(Montana) -- The Chippewa Cree tribe's online lending company has reached a settlement in a lawsuit filed after the tribe and its development corporation failed to...
article Payday Lender Scott Tucker Sentenced To More Than 16 Years In Prison
(New York) -- Leawood businessman Scott Tucker was sentenced in New York today to more than 16 years in prison for running an illegal internet payday lending empire.
article Payday Loan Mogul Trades Ferrari-Racing Life for Prison Term
(New York) -- Scott Tucker says he’s a pioneering self-made man who, without a college degree, founded successful businesses in a variety of fields and contributed...
article Race car driver Tucker gets more than 16 years for lending scheme
(New York) -- A Kansas businessman and race car driver was sentenced to 16 years and 8 months in prison on Friday for crimes related to his online payday lending...
article Tucker sentenced to more than 16 years in prison in payday lending case
(New York) -- Scott Tucker's days as a free man came to an end on Friday after the former American Le Mans Series team owner was sentenced to 16 years and eight...

1/4/2018

article Chippewa Cree Tribe Settles BEH Gaming Ltd Lawsuit
(Montana) -- Plain Green, LLC, the premier online resource for the short-term financial needs of underbanked and subprime consumers, today announces a successful...

1/3/2018

article US Wants 20 Years For Payday Loan Boss Scott Tucker (sub req,)
(New York) -- Scott Tucker, the auto racer and businessman convicted of using sham tribal contracts to operate a $2 billion criminal payday loan empire, should spend at...

1/2/2018

article US Wants 20 Years For Payday Loan Boss Scott Tucker
(Kansas) -- Scott Tucker, the auto racer and businessman convicted of using sham tribal contracts to operate a $2 billion criminal payday loan empire, should spend at...
article Payday Lender May Have to Forfeit $491 Million
(Pennsylvania) -- How much should a racketeering conviction cost a man who for years flouted Pennsylvania laws and preyed upon cash-strapped Americans to build one of...

12/29/2017

article Main Line payday lender Hallinan may have to forfeit $491M
(Pennsylvania) -- How much should a racketeering conviction cost a man who for years flouted state laws and preyed upon cash-strapped Americans to build one of the...

12/23/2017

article Pro racecar driver Tucker accused of not reporting income
(Kansas) -- Professional racecar driver Scott Tucker and his accountant have been indicted on federal charges of failing to report millions in income from a payday...

12/22/2017

article Is Congress expanding credit for the poor or enabling payday lenders?
(Washington D.C.) -- The Center for Public IntegrityKen Rees has made a fortune selling loans with triple-digit interest rates to borrowers with poor credit history or...
article DAVIS: Tribal Sovereignty: Good for Indian Country’s economy, good for America’s economy
(Indian Country) -- Tribal sovereignty can be an obscure concept for non-Native Americans, but for all federally recognized tribes in the United States, it is an...
press release Native American Financial Services Association to Hold Inaugural Regulatory Workshop in Washington, DC
(Washington D.C.) -- The Native American Financial Services Association (NAFSA) today announced the date for its inaugural Tribal Lending Regulatory Workshop, to be held...

12/21/2017

article Payday titan Tucker faces a new indictment
(Kansas) -- Payday lending titan Scott Tucker now faces a new indictment for failing to report millions in income. The 55-year-old Leawood businessman has been charged...

12/20/2017

article Scott Tucker, recently convicted payday loan businessman, faces new criminal charges
(Kansas) -- Leawood businessman Scott Tucker, already convicted of criminal charges of running an illegal payday loan business, faces a new indictment for not reporting...

12/19/2017

article How a Main Line payday lender used an Indian tribe and an empty computer server to make millions
(Pennsylvania) -- The nerve center of payday lending pioneer was – at least on paper – housed for years in a dilapidated shipping container parked on a dusty...

12/18/2017

article Supreme Court Rejects Tribal Lenders’ Petition to Avoid CFPB CID
(New York) -- On December 11, the U.S. Supreme Court rejected without comment a petition from online tribal lending entities to appeal a Ninth Circuit Court of Appeals...

12/13/2017

article Judge rejects tribal immunity for manager of auto lender
(Pennsylvania) -- A former co-manager of a tribal lender accused of collecting illegally high interest rates cannot escape the lawsuit against him by claiming tribal...

11/28/2017

article White House Memo Justifying CFPB Takeover Was Written By Payday Lender Attorney
(Washington D.C.) -- The lawyer who wrote the Office of Legal Counsel memo supporting the Trump administration’s viewpoint that the president can appoint Mick...
article Lawyer and the payday lender he advised are convicted
(Philadelphia) -- A corporate and banking lawyer has been convicted of racketeering conspiracy along with the payday lender he advised on how to avoid state caps on loan...
article NM, Native Group Urge Nix Of CFPB's Tribal Lenders Suit
(Kansas) -- The state of New Mexico and the National Congress of American Indians on Monday urged a Kansas federal judge to toss a Consumer Financial Protection Bureau...

11/27/2017

article Federal jury finds Main Line payday lender Hallinan guilty of racketeering conspiracy
(Pennsylvania) -- A former Main Line investment banker known as the “godfather of payday lending” was found guilty of racketeering conspiracy charges Monday...

11/22/2017

article Main Line payday lender's fate in hands of federal jury
(Pennsylvania) -- A federal jury weighing the racketeering conspiracy case against Main Line payday lending pioneer Charles Hallinan concluded its first full day of...

11/21/2017

article LEGAL BLOG: Oklahoma AG Sides With Tribal Defendants, Assails CFPB's Expansive Interpretation Of Enforcement Powers
(Kansas) -- In an amicus brief filed last week in the U.S. District Court for the District of Kansas, Oklahoma Attorney General Mike Hunter assailed the expansive...

11/20/2017

article CFPB Sues Tribal-Affiliated Online Loan Servicer for Collecting on Allegedly Void Loans
(Washington D.C.) -- On November 16, 2017, the CFPB filed suit in Montana federal court against Think Finance for activities connected to its tribal-affiliated internet...

11/18/2017

article Tribes see opening under Trump to reshape agency that targets lending industry
(Washington D.C.) -- The leader of an independent federal agency that has targeted the tribal lending industry will be stepping down, opening the door for President...

11/3/2017

article How a Main Line payday lender used an Indian tribe and an empty computer server to make millions
(California) -- The nerve center of payday lending pioneer Charles Hallinan’s multimillion-dollar business empire was – at least on paper – housed for...

10/14/2017

article Race car driver Scott Tucker convicted over payday loans
(New York) -- Race car driver and payday loan mogul Scott Tucker was convicted of racketeering charges stemming from a federal crackdown on lenders who prey on poor...

10/13/2017

article Auto Racer, Atty Guilty Of Running Criminal Payday Loan Empire
(New York) -- A Manhattan jury Friday found auto racer Scott Tucker and his attorney Timothy Muir guilty of operating a $2 billion criminal payday loan empire that...

10/10/2017

article Teacher: $200 payday loan pushed me to brink of bankruptcy
(Pennsylvania) -- With bills piling up, her credit shot, and a choice looming each morning of whether to spend her last dollars on food or on gas to get to work, high...

10/4/2017

article NAFSA to Congress: CFPB Targets and Actively Dismisses Tribal Sovereignty
(Washington D.C.) -- The CFPB has created a dangerous precedent by ignoring tribal sovereignty, says Native American Financial Services Association (NAFSA) Executive...

9/27/2017

article Tribal Atty Fined By FTC Testifies At $2B Payday Loan Trial
(New York) -- Lawyer Troy LittleAxe on Wednesday told Manhattan jurors hearing criminal charges against racer Scott Tucker and attorney Timothy Muir that the pair once...
article Testimony in payday-lending pioneer's trial likely to start
(Pennsylvania) -- Lawyers in the federal racketeering trial of payday lending pioneer Charles Hallinan on Wednesday spent a second full day screening potential jurors....

9/26/2017

article Lawyer's Email Boasts Shown At $2B Payday Loan Fraud Trial [sub req]
(New York) -- A Manhattan jury saw potentially damaging emails Tuesday in the criminal trial of race car driver Scott Tucker and lawyer Timothy Muir in which an...
article Main Line payday lending pioneer faces trial on Mafia-busting charges
(Pennsylvania) -- In nearly two decades of payday lending, Charles Hallinan survived repeated government efforts to crack down on his industry, making millions –...

9/19/2017

article Atty Tells Jury Tribe Grew Wary Of Racer's Payday Loan Plan (sub req)
(New York) -- An effort by racer Scott Tucker to involve California's Yurok tribe in a lending operation fizzled amid tribal concern it would have no role in the...

9/13/2017

article $2B Payday-Loan Hustle Hid Behind Tribes, Gov't Says [sub req]
(New York) -- Federal prosecutors went to trial Tuesday in Manhattan federal court against a racecar driver and a lawyer who allegedly stole $2 billion from consumers in...

9/10/2017

article NAFSA Files Amicus Brief in Key Tribal Sovereignty Case before the Supreme Court
(Washington D.C.) -- The Native American Financial Services Association (NAFSA) submitted an amicus brief this week in support of the plaintiffs in Great Plains Lending...

9/4/2017

article $2B Trial Puts Tribal Payday Lending In Spotlight [sub req]
(New York) -- Race car driver Scott Tucker and lawyer Timothy Muir are slated to stand trial soon on charges they ran an illegal $2 billion payday loan operation that...

9/1/2017

article $2B Trial Puts Tribal Payday Lending In Spotlight (sub req)
(New York) -- Race car driver Scott Tucker and lawyer Timothy Muir are slated to stand trial soon on charges they ran an illegal $2 billion payday loan operation that...

8/30/2017

article Las Vegas businessmen sentenced in Rocky Boy corruption case
(Montana) -- Two Las Vegas businessmen were sentenced to federal prison last week for their work in defrauding millions of dollars from the Chippewa Cree Tribe with the...

8/28/2017

article Two Las Vegas Executives Get Prison Time in Corruption Case
(Montana) -- Two Las Vegas businessmen have been sentenced to 20 months in prison for their roles in defrauding a Montana Indian tribe’s online lending company.

8/26/2017

article Roberts and Mazzara sentenced to prison for conspiracy to commit wire fraud
(Montana) -- According to the Department of Justice, Zachary Brooke Roberts and Martin Gasper Mazzara were sentenced to 20 months of prison and required to pay $2.5...

8/20/2017

article Feds end consumer measure that earned wrath of payday lenders, Republicans and sex industry
(Washington D.C.) -- The Department of Justice is ending an Obama-era policy that instructed banks to watch out for “high-risk” merchants that sought direct...

8/14/2017

article Tribal Lenders Ask High Court To Weigh CFPB's Jurisdiction (sub req)
(New York) -- A pair of tribal lending companies have asked the U.S. Supreme Court to review the Ninth Circuit’s conclusion that they must comply with civil...

7/24/2017

article Leawood payday lender Scott Tucker files appeal to overturn $1.26 billion fine
(Kansas) -- Payday loan businessman Scott Tucker wants an appeals court to toss out a $1.26 billion fine against him last year from a case filed by the Federal Trade...

7/10/2017

article Judge Denies Stay To Tribal Lending Cos. In CFPB Probe [sub req]
(California) -- A California federal judge on Friday rejected a bid by tribal lending companies to halt civil investigative demands by the Consumer Financial Protection...

6/20/2017

article Ga. Court Says Tribal Lending Co. Immune In Contract Row [sub req]
(Georgia) -- A Georgia appeals court on Monday tossed an arbitration award against a Native American tribe-owned lending company in a contract dispute, saying the...

6/7/2017

article Judge orders KC law firm to turn over client records in Scott Tucker payday lending case
(Kansas) -- A federal judge in New York has ordered Kansas City law firm McDowell Rice Smith & Buchanan to give prosecutors client records associated with a case it...
article OP/ED: Sorry House GOP, predatory lending oversight has bipartisan support
(Washington D.C.) -- The House of Representatives will vote Thursday on the Financial CHOICE Act, Rep. Jeb Hensarling's (R-Texas) attempt to repeal and replace the...

5/31/2017

article BLOG: Fourth Circuit Affirms Finding That Arbitration Agreement In Payday Loan Obtained Over The Internet Is Unenforceable
(USA) -- Plaintiff electronically signed a contract which contained: (1) terms governing the loan; (2) an agreement to submit disputes to arbitration; and (3) a choice...

5/22/2017

article CFPB Faces Increasing Challenges to Its Authority to Investigate Violations of Consumer Financial Laws
(Washington D.C.) -- Six years into its existence, the Consumer Financial Protection Bureau is facing increasing challenges to its authority. While Congress is...

5/12/2017

article CFPB targets tribal lenders for breaking state usury laws, could have far-reaching impact
(Illinois) -- An expert on consumer financing law says a recent action filed by the Consumer Financial Protection Bureau in Chicago federal court could have far-reaching...

5/7/2017

article Nevada firm, executives agree to pay Montana tribe $2.5M
(Montana) -- Three executives of Nevada-based consulting firm will pay a Native American tribe in Montana $2.5 million and face possible prison time for their roles in...

5/5/2017

article CORRECTED: Judge Sets Terms Of Racer’s $1.3B FTC Deal [surb req]
(Nevada) -- A Nevada federal judge has clarified that a $1.3 billion judgment the Federal Trade Commission won against professional auto racer Scott Tucker for running...

5/4/2017

article Nevada Firm, Executives Agree to Pay Montana Tribe $2.5M
(Montana) -- Three executives of Nevada-based consulting firm will pay a Native American tribe in Montana $2.5 million and face possible prison time for their roles in...

5/2/2017

article CashCall Can't Avoid Lending Suit With Sham Tribe Affiliation [sub req]
(New Jersey) -- CashCall and another loan service can’t escape a suit brought by a man who claims the lenders charged an illegally high interest rate on a $5,000...

5/1/2017

article Tribal-Affiliation Sham
(New Jersey) -- Advancing usury claims against CashCall Inc., a federal judge blasted the “sham dispute-resolution procedures” that the payday lender invoked...

4/29/2017

article CFPB, Online Lenders Spar Over Interest Rates, Tribal Law
(Washington D.C.) -- The Consumer Financial Protection Bureau has filed suit against four online lenders in California, accusing them of charging interest rates as high...
article Feds charge Indian tribal lenders for illegal practices
(California) -- Four online lenders owned by the tiny Northern California Habematolel Pomo Indian tribe charged triple-digit interest rates on small-dollar loans and...
article Feds: Tribe-owned online lenders collected on invalid debts
(Washington) -- Federal regulators sued four online lenders for collecting consumer debts they weren't legally owed, an area that is a prime source of consumer...
article Payday lenders selling illegal loans in Montana, federal banking regulators allege
(Montana) -- Four California-based, tribal-backed online payday lenders illegally sold high-interest loans to consumers in Montana and other states, federal banking...

4/28/2017

article Regulators take action against 4 lenders operating in Arizona, other states
(Arizona) -- Federal regulators are taking legal action against four small-dollar lending companies owned by a tiny California tribe, arguing that the loans are void and...

4/24/2017

article A Fight Between Native American Lenders And The Government Could Reach The Supreme Court
(Washington D.C.) -- High interest lenders owned by Native American tribes could take their dispute with the federal government to the Supreme Court, in a case that...

4/18/2017

article CashCall Blames Law Firm For Staggering Loss
(California) -- Asserting damages of more than half a billion dollars, consumer lender CashCall has sued Katten Muchin Rosenman and a top partner for malpractice,...

4/1/2017

article NAFSA Continues to Advance Indian Country’s Economy, Sovereignty
(Washington D.C.) -- Leaders and members of the Native American Financial Services Association (NAFSA) were in Washington, DC this week to meet with high-ranking...

3/29/2017

article Tribal Nation claims Connecticut lawyer violated open record laws by deleting social media
(Connecticut) -- The Freedom of Information Commission is close to deciding whether a former top banking official violated Connecticut’s open record laws when he...

3/15/2017

article Native American Financial Services Association Highlights Tribal Sovereignty, Online Lending as Presenting Sponsor of National RES
(Las Vegas) -- The Native American Financial Services Association (NAFSA) hosted a Financial Services Expo on Tuesday March 14, 2017 with tribal and industry leaders,...

3/2/2017

article State regulators reach million dollar settlement with internet lender
(Oklahoma) -- The Oklahoma Department of Consumer Credit says online lender, CashCall, exploited Oklahoma consumers. “This is the classic rent-a-tribe,” said...

2/27/2017

article The Myth vs. the Truth About Regulating Payday Lenders
(USA) -- When state laws drive so-called "debt traps" to shut down, the industry moves its business online. Do their low-income customers follow?
article Legislature resists efforts to rein in payday loans
(New Mexico) -- In a Roundhouse meeting room packed with lobbyists and a few consumer protection advocates, the House Business and Industry Committee on Friday quietly...

2/17/2017

article Indian Nations Law Update - February 2017: Ninth Circuit Rejects Tribal Online Lenders’ “Co-Regulator” Argument
(USA) -- In Consumer Financial Protection Bureau v. Great Plains Lending, 2017 WL 242560 (9th Cir. 2017), the Consumer Finance Protection Bureau (CFPB) issued civil...

2/13/2017

article Georgia AG Follows Familiar Pattern; Settles Suit Against California Payday Lender for Alleged Rent-A-Tribe Scheme
(Georgia) -- On February 9, the Attorney General’s Office for the State of Georgia (Georgia AG) announced that it reached a settlement and entered into a consent...

2/2/2017

article Court Enforces CFPB Civil Investigative Demand Against Tribal Lending Entity; Rejects Argument that Tribal Sovereignty Precludes Such Demands
(USA) -- On January 20, 2017, in CFPB v. Great Plains Lending, a three-judge panel of the Ninth Circuit Court of Appeals upheld the Consumer Financial Protection Bureau...

2/1/2017

article $15 Million Settlement in Tribe-For-Hire Scam
(Virginia) -- More than 15,000 victims of a predatory lending scheme in Virginia are having their loans absolved and receiving cash awards. That’s thanks to a $15...

1/31/2017

article Victims of Tribe-For-Rent Scam to Get $15 Million Payout in Settlement Agreement
(Virginia) -- The television commercials made it look so easy. Put $5,000 in your checking account now. The message was delivered by a Native American woman as a tribal...
article Ninth Circuit affirms tribal lenders subject to CFPB investigative demands
(Washington D.C.) -- The Ninth Circuit recently issued its opinion in CFPB v. Great Plains Lending, LLC, et al., in which three tribal-affiliated, for-profit lending...

1/30/2017

article Victims of Tribe-For-Rent Scam to Get $15 Million Payout in Settlement Agreement
(California) -- The television commercials made it look so easy. Put $5,000 in your checking account now. The message was delivered by a Native American woman as a...

1/27/2017

article Commission: Payday lender ruling 'a win for California consumers'
(California) -- The California Department of Business Oversight is pleased with a Dec. 22 California Supreme Court ruling in a nearly decade-long case related to payday...

1/26/2017

article Ninth Circuit Compels Tribal Lenders to Comply with CFPB Investigative Demand
(California) -- On January 20, 2017, the Ninth Circuit affirmed a trial court ruling that ordered three tribal lending entities to comply with the Consumer Financial...

1/24/2017

article CFPB Gets Green Light To Investigate Tribal Lenders
(California) -- The Consumer Financial Protection Bureau got the nod Friday (Jan. 20) from a California appeals court that it can go after Native American tribal lenders...

1/23/2017

article Tribal Lenders Must Respond To CFPB Probe, 9th Circ. Says
(USA) -- A Ninth Circuit panel on Friday affirmed a district court decision compelling three tribal lending entities to comply with civil investigative demands issued by...

1/20/2017

article Court: Indian Lending Companies Subject to Federal Probe
(California) -- A federal appeals court says lending companies operated by Native American tribes are subject to investigation by a government regulator. The 9th U.S....

1/17/2017

article Calif. Supreme Court: No immunity extension for tribal payday lenders
(California) -- Two federally recognized tribes have been denied immunity protections from California payday lender regulations after a recent state Supreme Court...
article CashCall, Western Sky Reach $1.25M Deal With Fla. AG [sub req]
(California) -- Lenders CashCall Inc. and Western Sky Financial LLC have agreed to a settle yet another state action over charging allegedly illegal interest rates, this...

1/13/2017

article United States: California Supreme Court Finds Two Payday Lenders Not Immune From State Lending Laws
(California) -- On December 22, the California Supreme Court in Owen v. Miami Nation Enterprises, held that payday lending companies failed to prove by a preponderance...

1/10/2017

article California Supreme Court Declines to Extend Tribal Sovereign Immunity to Payday Lending Businesses
(California) -- On December 22, 2016, the California Supreme Court issued People ex rel. Owen v. Miami Nation Enterprises. The decision found that certain tribal...

1/9/2017

article Fake Payday Loan Scams Continue to Surround the Modoc Tribe’s 500FastCash
(California) -- The Federal Trade Commission (FTC) has charged a Kansas man and his companies with selling portfolios of fake payday loan debts that debt collectors used...

1/4/2017

article Tribal Sovereign Immunity Not a Bar to Payday Lending Enforcement Action, California Supreme Court Rules
(California) -- In a state enforcement action alleging violations of California's lending law and seeking to enjoin continued lending to state residents, the...

1/3/2017

article Another Blow to Online Payday Lenders, This One from Calif. Court
(California) -- The state's highest court ruled that lenders affiliated with Native American tribes are not entitled to sovereign immunity and must comply with state...

12/24/2016

article S.C. Rejects Immunity Claim in Payday Lending Case
(South Carolina) -- Several payday lending businesses operated by Indian tribes or their affiliates are not immune from a state law that limits the size of such loans...

12/23/2016

article Court rules against payday lenders claiming to be part of tribes
(California) -- Payday lenders can’t shield themselves from state regulation of their interest rates by affiliating with Indian tribes while keeping control of...
article Nine years later, state wins key verdict over tribal payday lenders
(California) -- A decade after California financial regulators first went after a pair of online payday lenders with ties to Native American tribes, the California...
article Scott Tucker asks for another delay in payday loan criminal trial
(Kansas) -- An attorney representing Leawood payday loan businessman Scott Tucker in an upcoming financial criminal trial has asked a judge for more time to prepare a...

12/22/2016

article Calif. Justices Clarify When Tribal Businesses Are Immune [sub req]
(California) -- The California Supreme Court on Thursday clarified the legal standard for when tribe-affiliated entities can establish legal immunity, holding that...

12/12/2016

article CashCall Shouldn't Be Allowed Quick Appeal, CFPB Says [sub req]
(California) -- The Consumer Financial Protection Bureau told a California federal court on Sunday that CashCall Inc. should not be given permission to immediately...

12/5/2016

article Payday lenders may soon find friends in Washington
(Washington D.C.) -- Payday lenders have been up in arms in recent years over federal banking regulators attempting to put “death sentence” limits on the...

12/2/2016

article Payday loan magnate Scott Tucker of Leawood faces more criminal charges
(Kansas) -- Federal prosecutors have added four criminal charges to the indictment of Scott Tucker, a Leawood businessman accused of running a usurious payday loan...

11/28/2016

article Payouts and Paydays: What Happens When Settlements Are Awarded
(USA) -- There are many different types of financial settlements. You may receive one from your insurance company or from an employer after an accident, or you may have...

11/22/2016

article 11th Circ. Affirms CashCall Can't Arbitrate Loan Rates Suit [sub req]
(New York) -- An Eleventh Circuit panel on Monday affirmed a lower court that found Native American-owned Western Sky Financial LLC's loan servicer cannot compel...

11/16/2016

article Social media posts part of banking investigation
(Connecticut) -- A former top state banking official on Tuesday could not recall whether he edited and deleted social-media posts before or after a request to examine...

11/9/2016

article Georgia Supreme Court Rejects Attempts to Narrow State Payday Lending Act
(Georgia) -- Last week, in Western Sky Financial v. State of Georgia, the Georgia Supreme Court issued a decision rejecting challenges to the state's Payday Lending...

10/27/2016

article American Indian tribe buys Mission-based payday loan servicing firm MacFarlane Group
(Oklahoma) -- The Otoe-Missouria Tribe, an American Indian tribe in Oklahoma, announced that it completed its acquisition of MacFarlane Group, a Mission company that...

10/21/2016

article Single widow says she was trapped by high interest tribal loan
(Oklahoma) -- Online loans for people with bad credit - applying is easy, and approvals are fast. One of those large lenders is in Red Rock, Oklahoma. American Web Loan...

10/16/2016

article Payday loans in regulators' cross hairs
(Minnesota) -- A not-so-quiet battle is being waged among regulators, consumer advocates and industry players over who best represents the interests of the 12 million...

10/4/2016

article Payday Lenders Must Cough Up $1.3 Billion
(New York) -- A federal judge ordered payday lenders that refused to settle with the Federal Trade Commission to pay $1.3 billion for defrauding consumers. U.S. District...
article Payday loan mogul Scott Tucker’s $1.3 billion judgment is a record for the FTC
(New York) -- The Federal Trade Commission, in its first public remarks since a federal judge last week entered a $1.3 billion judgment against Leawood payday loan...
article CFPB's victory over CashCall a win for consumers, expert says
(California) -- A Los Angeles federal judge’s ruling against CashCall Inc. over alleged predatory lending practices is a win for consumers, an expert in...

10/1/2016

article Federal judge says Leawood payday loan mogul Scott Tucker and others on the hook for $1.266 billion
(Nevada) -- A federal judge in Nevada has ordered Leawood businessman Scott Tucker and others to pay the Federal Trade Commission $1.266 billion after finding that they...

9/21/2016

article Attorneys for Leawood payday loan mogul ask judge to drop some charges
(Kansas) -- Attorneys for Scott Tucker want a federal judge to drop four criminal charges against the Leawood payday loan businessman, arguing that state laws regulating...

9/16/2016

article LEGAL BLOG: Federal Court Finds for CFPB in Tribal Lending Case
(California) -- In an opinion issued in a case previously discussed on this blog, a federal district court has found that a California loan company violated federal law...

9/14/2016

article Banking Department Still Deciding What To Do About Tribal Payday Loan Companies
(Connecticut) -- The Connecticut Department of Banking has less than 20 days to decide whether it will appeal a court decision that sustains tribal immunity for an...

9/7/2016

article CashCall loses long court battle with feds over how high it can set its loan rates
(California) -- CashCall Inc. made loans for years at illegally high interest rates, a judge ruled last week, dealing a blow to the Orange County company and raising...

9/3/2016

article Oklahoma religious leaders call for payday lending changes
(Oklahoma) -- A group of leaders from Oklahoma churches, nonprofits and Native American tribes called Tuesday for changes to the state’s payday loan industry,...

9/2/2016

article Court doesn't buy CashCall's 'tribal model' argument
(USA) -- A federal district court has ruled that CashCall's "rent-a-bank" strategy does not render it exempt from fair lending laws. The ruling is seen as...
article Judge denies payday loan mogul’s plea to keep living on $8,000 a month
(Kansas) -- Scott Tucker, a Leawood payday loan businessman who is fighting civil and criminal legal battles against the federal government, cannot tap into frozen...

9/1/2016

article Oklahoma religious leaders call for payday lending changes
(Oklahoma) -- Leaders from some of Oklahoma's churches, nonprofits and Native American tribes are among those calling for changes to the state's payday loan...
article Online Lenders Face Higher Litigation Risk After U.S. Court Ruling
(California) -- Marketplace lenders face the prospect of another disruption to their business model after a federal court in California ruled this week that an online...

8/27/2016

article FOIA case pits Indian tribe against CT Dept of Banking
(Connecticut) -- As the state battles an Oklahoma Indian tribe in court over the operation of its high-interest loan program, a second legal front has opened up over the...

8/26/2016

article FOIA case pits Indian tribe against CT Dept of Banking
(Connecticut) -- As the state battles an Oklahoma Indian tribe in court over the operation of its high-interest loan program, a second legal front has opened up over the...
article MONTEAU: CFPB Is Barking Up the Wrong Tree
(Washington D.C.) -- The Consumer Finance Protection Bureau (CFPB), in pursuing the Tribes and their lending entities, is ignoring the real culprits in setting up these...

8/23/2016

article Sanctions Denied On Tribe's Payday Lender Partners [sub req]
(Vermont) -- A Vermont federal judge on Monday rejected a bid by borrowers pursuing a proposed class action that levels Racketeer Influenced and Corrupt Organizations...

8/18/2016

article How Predatory Payday Lenders Plot to Fight Government Regulation
(Washington D.C.) -- Months before a federal agency proposed a new rule threatening the profits of exploitative payday lenders across America, the industry's leaders...
article Internet lender owes millions in restitution to MN borrowers
(Minnesota) -- An internet lender based in California is barred from doing business in Minnesota unless it complies with state lending laws. Minnesota Attorney General...
article Online Lender Claiming Tribal Affiliation Must Refund, Cancel $11.6M In Payday Loans
(Minnesota) -- For years, online lenders have claimed affiliations with tribal groups in order to skirt state laws related to short-term, high-interest loans. Today, the...
article State bars internet lender, wins $11.7M settlement over 'rent-a-tribe' loans
(Minnesota) -- CashCall Inc., an internet lender accused of hiding behind an American Indian tribe to break state laws, agreed to pay nearly $12 million to settle...

8/2/2016

article How New Rules Could Reshape The Payday Loan Industry
(USA) -- The payday loan industry, long criticized for its predatory tactics targeting desperate consumers, is under new scrutiny by the federal government. The Consumer...

7/20/2016

article CFPB, CashCall Debate 'True Lender' In Payday Loan Row [sub req]
(California) -- The Consumer Financial Protection Bureau and loan servicer CashCall traded blows in California federal court Monday over the agency’s claims the...

7/13/2016

article On line ‘Rent a Tribe’ lenders ordered to pay $9 million to North Carolina consumers
(North Carolina) -- Late last month North Carolina Attorney General Roy Cooper announced the successful conclusion of over two years’ litigation with on line...

7/5/2016

article Tribal Lender Affiliates Fight Sanctions Bid In RICO Suit [sub req]
(Nebraska) -- Affiliates of Chippewa Cree payday lender Plain Green LLC pushed back Thursday against a bid for sanctions by borrowers pursuing a proposed class action in...

6/29/2016

article Arkansas attorney general settles on alleged illegal payday loan scheme
(Arkansas) -- Arkansas Attorney General Leslie Rutledge has announced her office has settled a consumer protection lawsuit against Western Sky Financial, CashCall Inc.,...

6/25/2016

article Settlement reached with online payday lender
(Arkansas) -- Arkansas Attorney General Leslie Rutledge has settled a consumer-protection lawsuit against Western Sky Financial, CashCall Inc., WS Funding, Martin A....

6/23/2016

article NC Attorney General Reaches $9 Milllion Settlement With "American Indian Business" Western Sky Over Usurious Loans
(North Carolina) -- You will remember the North Carolina Attorney General's lawsuit against Western Sky Fin'l, LLC. It generated an opinion from the Business...
article Online Fast Cash Lenders to Pay $9 Million to Settle Claims of Illegal Lending to North Carolina Consumers
(North Carolina) -- On June 21, 2016, the North Carolina Attorney General announced that two online fast cash lenders have agreed to pay more than $9 million in refunds...
article Money for Nothing: Confessions of a Payday Lender: “I Felt Like a Modern-Day Gangster”
(USA) -- Federal regulators earlier this month unveiled new rules aimed at reining in payday lenders and the exorbitant fees they charge. Now expect to hear a lot of...

6/17/2016

article Payday loan mogul Scott Tucker can’t pay for his own defense attorneys
(Kansas) -- Scott Tucker, a Leawood businessman accused of running a $2 billion payday loan operation that preyed on 4.5 million consumers, now can’t pay for...

6/10/2016

article House panel moves to block Obama regulations on payday loans
(Washington D.C.) -- A powerful House panel is coming to the aid of payday lenders, moving to delay Obama administration regulations aimed at cracking down on the much-...

6/2/2016

article Loan shark loopholes: New regulation proposal won’t do enough to rein in predatory payday lenders, consumer groups say
(Washington D.C.) -- The Consumer Financial Protection Bureau proposed new regulations on Thursday that could help rein in predatory payday loans, short-term lendings...
article Montana tribe's online lending company splits with partner
(Montana) -- An online lending company owned by Montana's Chippewa Cree Tribe is parting ways with its non-Native American partner, which a lawsuit claims controlled...
article Payday Loans’ Debt Spiral to Be Curtailed
(New York) -- The payday loan industry, which is vilified for charging exorbitant interest rates on short-term loans that many Americans depend on, could soon be gutted...
article U.S. to Curb Payday Lenders
(Washington D.C.) -- The Obama administration will announce Thursday the federal government’s first move to regulate high-interest, low-dollar “payday loans...

6/1/2016

article Banking Department Says Tribal Payday Lending Companies Don’t Have Sovereign Immunity
(Washington D.C.) -- Connecticut’s Department of Banking has concluded that two payday lending companies owned by the Otoe-Missouri Tribal Nation are not protected...

5/23/2016

article RICO Claims, Others Survive In Vt. Tribal Payday Lending Suit [sub req]
(Vermont) -- A proposed class action leveling Racketeer Influenced and Corrupt Organizations Act and other allegations against affiliates of Chippewa Cree payday lender...

5/20/2016

article Judge rejects tribal immunity claim, will allow lending suit
(Oklahoma) -- A federal judge in Vermont has rejected Montana tribal officials' claims of sovereign immunity and said that he will hear a civil case alleging the...

5/19/2016

article Google Bans Payday Ads, but Also Backs a Payday Lender
(California) -- Google announced this month it would ban payday-loan ads. One wrinkle: It is an investor in a payday lender. GV, the venture-capital investment arm of...

5/14/2016

article Another Company With a Cause: Is Google Just Being a Good Citizen?
(USA) -- Google is an adventurous company, but few would ever think of it as a financial regulator. And yet that is effectively what Google became Wednesday when it said...

5/13/2016

article Enforcement: Father, Son Paid for Fraud Defense by Bilking Native Americans: SEC
(USA) -- Among recent enforcement actions by the Securities and Exchange Commission were charges against a father and son and five of their associates in a scheme to...
article How 'Porn’s New King’ Allegedly Swindled a Native American Tribe Out of Millions
(USA) -- Former internet porn baron Jason Galanis has been busted for scamming members of the Oglala Sioux Nation out of $60 million. A professor of Native American...
article The 'porn king' of LA 'ripped off impoverished Sioux tribe in $60million scam'
(USA) -- A man once dubbed 'Porn's New King' was arrested in Los Angeles on Wednesday on charges he scammed a Native American tribe and others of more than $...

5/12/2016

article Seven Accused of Selling Fake Bonds [sub req]
(New York) -- Federal prosecutors charged a former campaign adviser to Secretary of State John Kerry and a second man once dubbed by the media “porn’s new...
article ‘Porn’s New King’ busted for ripping off Indians
(New York) -- Jason Galanis, a man who in 2004 was called “Porn’s New King,” was arrested by FBI agents at his Los Angeles home on Wednesday and...

5/11/2016

article Google tells payday lenders to take their advertising business elsewhere
(California) -- Google has a message for payday lenders -- your ads are no good here. The Internet search giant announced Wednesday that it was banning advertisements...

5/10/2016

article As payday-lending kingpin Scott Tucker prepares for a criminal trial, the question remains: Where did the money go?
(Kansas) -- On April 12, Bloomberg published a report that described how Philadelphia payday-lending pioneer Charles Hallinan had become an investor in financial-...

5/9/2016

article Payday Lenders Suit Settled
(Nebraska) -- Another payday lender lawsuit has been settled. This particular case relates to a predatory lending suit against CashCall and Western Sky Financial, who...

5/7/2016

article Tunica-Biloxi creates regulatory commission for online consumer lending operations
(Louisiana) -- Although it has chosen not to do business in Louisiana, the Marksville-based Tunica-Biloxi Tribe’s MobiLoans online lending company has a national...

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