Tribal Lenders Ask 9th Circ. To Pause OK Of CFPB Probe
Law360, New York (April 12, 2017, 8:14 PM EDT) -- Three tribal lending companies urged the Ninth Circuit on Tuesday to delay a mandate for its decision that they must comply with civil investigative demands by the Consumer Financial Protection Bureau, saying they plan to raise an important question about how federal law applies to tribes in an upcoming U.S. Supreme Court petition.
In January, a Ninth Circuit panel affirmed a district court decision that Great Plains Lending LLC, MobiLoans LLC and Plain Green LLC were compelled to comply with the CFPB’s demands, holding that Congress didn’t expressly exclude the three tribes affiliated with the companies from the bureau’s enforcement authority....
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