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Storefront payday lenders criticize online rivals for affiliating with Indian tribes

Вторник, 18 Авг 2020

Storefront payday lenders criticize online rivals for affiliating with Indian tribes

Elaine Thompson/The Associated Press

Brand New customer Financial Protection Bureau has authority to manage payday industry

Introduction

A U.S. Number of storefront payday lenders is distancing itself from some online payday lenders, saying they wish to avoid state legislation by partnering with Native America tribes.

“We abhor their methods, ” Steven Schlein, a spokesman when it comes to customer Financial Services Association of America (CFSA), friends that represents bricks-and-mortar lending that is payday, told iWatch Information.

Maryland challenges online payday lender owned by tribal user

Loan providers that peddle loans online allow it to be burdensome for states to manage them, Schlein stated. (далее…)