An online tribal lender's fall; get ready for FedNow now, Brainard says
The $33 million Elevate settlement, which received final approval on Aug. 16, is the latest blow to the tribal lending experiment — a well-funded attempt, about a decade ago, to work around state interest rate caps.

An online tribal lender's fall; get ready for FedNow now, Brainard says

A decade ago, Think Finance partnered with Native American tribes in an effort to avoid state interest-rate caps on consumer loans. After the company's legal woes finally ended this month, court documents shed light on its rapid rise and steep fall: How 'it all unraveled' for one online tribal lender

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CHESTER SWANSON SR.

Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer

2 年

Thanks for sharing, On the finance partnered with Native American Tribes in an effort to avoid State Interest Rates.

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