California Appellate Court Rules Tribal Pay Day Loan Companies Entitled to Sovereign Immunity

By |January 2nd, 2021|

California Appellate Court Rules Tribal Pay Day Loan Companies Entitled to Sovereign Immunity On January 21, 2014, the Ca Court of Appeals held in individuals v. Miami Nation Enterprises that California’s Department of company Oversight could perhaps perhaps maybe not sue Miami Nation Enterprises (MNE) or SFS, Inc. for providing loans that are payday state residents in breach associated with Ca Deferred Deposit Transaction Law. MNE is an enterprise for the Miami country of Oklahoma and SFS can be an enterprise for the Santee Sioux Tribe of Nebraska. The court ruled that both MNE and SFS had been hands of the particular tribes and therefore eligible for sovereign resistance. We’ve formerly reported on relevant lending that is payday in General Memoranda 12-037 of March 9, 2012 (“Colorado Supreme Court Holds that Two Tribal Payday Loan Businesses Have Tribal Immunity”) and 13-068 of August 1, 2013 (“Federal Trade Commission Settles on line Payday Lending Suit expanding Its Jurisdiction in Indian Country”). In 2007, the Ca Department of Corporations brought an action in state court to get rid of the payday financing methods of five company (Ameriloan, United Cash Loans, US Fast money, Preferred money and another Click money) billing all of them with unlawful deferred deposits, loan limit violations, exorbitant charges, and consumer notice violations. […]