CFPB’s Suit Against Four Tribally-Owned Lending Entities Another Troubling Action from Controversial Agency
On Thursday, April 27th, the Consumer Financial Protection Bureau (CFPB) filed a complaint in the U.S. District Court for the Northern District of Illinois alleging violations of the Truth in Lending Act (TILA) and Title X of the Dodd-Frank Wall Street Reform and...
Supreme Court Refuses to Extend Immunity to Tribal Gaming Employee
On April 25th, the U.S Supreme Court issued its opinion in Lewis v. Clarke, a case centered on tribal sovereignty and the actions of tribal employees outside tribal lands. Clarke operated a limousine for the Mohegan Sun Casino, an economic arm of the Mohegan Tribe....
CHOICE Act Hearing Focuses on Bank Regulation, Offers Changes to CFPB
The House Financial Services Committee held a hearing on April 26th titled “A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs” to discuss the provisions of the recently revamped CHOICE Act, a replacement for many of the...
BuzzFeed: A Fight Between Native American Lenders And The Government Could Reach The Supreme Court
Consumer Financial Protection Bureau v. Great Plains Lending, LLC, et. al. is a very important court case for those operating in the tribal lending space, including NAFSA members. We took the time to explain some of the nuances about the case and the underlying issues...
Western Sky and the Importance of Proper Legal Counsel in Online Lending
Last Tuesday, J. Paul Reddam, owner of the California-based lender, Cash Call, sued the law firm that previously helped him join forces with a private citizen living on tribal land to build his now-crumbling lending empire. Reddam alleges that attorneys at Katten...
Trump Nears 100 Days in Office, Signs Memos to Review Bank Oversight
The first one hundred days of a president’s term in office are typically a reflection point on the early efficacy of our nation’s top executive. One of President Trump’s chief concerns entering office in January was Wall Street regulation and the Dodd-Frank Act. He...
Company Petitions Supreme Court Over Constitutionality of Section 8(a) Program
Rothe Development, Inc., a woman-owned small business located in San Antonio, recently filed a writ of certiorari with the U.S. Supreme Court arguing the Small Business Administration’s Section 8(a) program that ensures at least 5% of federal contracting goes to...
Hensarling to Present CHOICE Act 2.0, Reforms to CFPB at April 26th Hearing
Rep. Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, plans to introduce his sweeping reforms to the Dodd-Frank Act, dubbed CHOICE Act 2.0, at a hearing titled “A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers,...
