DOJ Department of Justice Centers Around Tribe Sovereign Nation Lending Model
The tribe payday loan lending model is being heavily scrutinized between attacks by the CFPB and the Department of Justice. When set-up correctly, and as soon as the tribe experiences a real interest that is beneficial the lending enterprise, the “Sovereign Model” can certainly still sound right.
Furthermore, let’s not forget the disruption that is latest due to Madden vs Midland while the old theme “rent-a-bank! I’ve written relating to this before therefore let’s get straight back on the right track utilizing the DOJ.
PS: My summary? Those of us having a “bricks-n-sticks” footprint will not only prevail BUT revenue handsomely When we “stick to the knitting. ” Our little dollar loan borrowers continue to be hesitant to plug almost all their private information into a long site application and wait to know right right back from the call center worker for loan approval.
The attention associated with the tribal lending industry has centered on the buyer Financial Protection Bureau’s growing role in managing short term installment loans from sovereign tribal countries, but a brand new and more powerful player has recently emerged that may may play a role in shaping future talks: the U.S. Department of Justice. From JDSupra Read original below: “JDSupra-DOJ Assumes On Tribal Lending: In The Indictments Legislation”の続きを読む