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ProPublica
@propublica.org

NEW: Federal authorities have struggled to regulate tribal lending operations that offer short-term loans at crushing interest rates. But six states have shown that tribal immunity doesn’t prevent state officials from acting to protect consumers. By @joeljacobs.bsky.social & @megomatz.bsky.social

propub.liTribal Lenders Say They Can Charge Over 600% Interest. These States Stopped Them.Online lenders tied to Native American tribes argue that they aren’t subject to state lending laws, but they backed away from operating in six states where attorneys have acted forcefully to protect…

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John Hatchard
@johnhatchard.bsky.social

Another excellent ProPublica Tribal Lending article. "Lobbying efforts have thwarted attempts in Congress to rein in tribal lenders and triple-digit interest rate loans."

John Hatchard@johnhatchard.bsky.social

#Lobbyists #TribalLending #SupremeCourt #Reaganomics #MiltonFriedman #Project2025 #HeritageFoundation #FedSoc #FederalistSociety #Trump Lobbying efforts have thwarted attempts in Congress to rein in tribal lenders and triple-digit interest rate loans. Abridged (shortened) article thread ⏬ 18 min

propublica.orgThe Tribal Lending Industry Offers Quick Cash Online at Outrageous Interest Rates. Here’s How It’s Survived.Despite lawsuits, prosecutions and federal crackdown attempts, the tribal lending industry has adapted for over a decade, providing exorbitant loans to millions of financially vulnerable consumers.