2nd Circ. Says Tribal Officers Not Immune In Payday Loan Suit
Law360 (April 24, 2019, 8:49 PM EDT) -- The Second Circuit on Wednesday rejected a bid by officers of tribe-owned lending company Plain Green LLC to escape a suit claiming they charged exorbitant interest rates on so-called payday loans, saying tribal immunity didn't extend to them and loan agreements meant to compel arbitration couldn't be enforced.
Officials of Plain Green, a lending company owned by the Chippewa Cree Tribe of the Rocky Boy's Reservation in Montana, had asked the circuit court to overturn a ruling that they must face Vermont customers' claims that they violated racketeering and consumer protection laws, saying the borrowers had clearly agreed to have their...
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