District Court recently ruled that nyc can stop lenders that are payday making loans

District Court recently ruled that nyc can stop lenders that are payday making loans

This ruling expanded the state’s jurisdiction over lenders to tribal enterprises that are sovereign. It is not just inconsistent with Supreme Court precedent; it attacks ab muscles idea of tribal sovereignty.

In August, brand New York’s Department of Financial solutions Superintendent Benjamin Lawsky issued a cease‐​and‐​desist purchase to tribal lenders performing company with ny residents regarding the basis that their loans violated New York’s limit on interest levels. Continue reading District Court recently ruled that nyc can stop lenders that are payday making loans