An Oklahoma Indian tribe that the Connecticut Department of Banking claims operates two loan that is high-interest to make use of strapped metropolitan residents, has won at the very least a delay in its battle against imposition of $800,000 in charges.
Although the tribe views the present state Superior Court ruling as a success, it is as much as the banking department to check out other problems and determine whether or not to pursue further.
A judge recently remanded the presssing problem back once again to the department. In the event that division would like to pursue its instance up against the Otoe Missouria Tribe, of Red Rock in north-central Oklahoma, Banking Commissioner Jorge Perez would need to investigate further the links between your two companies, Great Plains Lending, LLC and Clear Creek Lending.
The businesses have already been providing alleged payday advances of between $100 and $2,000 вЂ” at interest levels of over 400 per cent. Continue reading “Connecticut probes Oklahoma tribe’s cash advance companies” »