CFPB Agrees To Dismiss Tribal Payday Loan Suit

Law360, New York (January 18, 2018, 3:51 PM EST) -- The Consumer Financial Protection Bureau told a Kansas federal judge on Thursday that it wanted to ax its own suit against lenders owned by a California tribe over allegedly abusive loans.

The federal government filed a notice of voluntary dismissal of its loan practices suit against four lenders owned by the Habematolel Pomo of Upper Lake, but didn’t offer a specific reason why. The CFPB said in a brief statement to Law360 that it would “continue to investigate the transactions that were at issue,” but declined to comment further because it was an open enforcement issue.

The government did say, however,...

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