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Receiver Loses Bid For Return Of $11.8 Million From Oklahoma Tribe

Mealey's (October 6, 2016, 11:34 AM EDT) -- KANSAS CITY, Mo. — A court-appointed receiver over several payday lending companies is not entitled to the return from an Oklahoma Indian tribe of $11.8 million that the companies paid the tribe and that the receiver says constitutes proceeds of fraudulent consumer lending activity of the companies, a Missouri federal judge ruled Oct. 4 (Federal Trade Commission v. CWB Services, LLC, et al., No. 14-00783, W.D. Mo.; 2016 U.S. Dist. LEXIS 137503).

(Order available.  Document #96-161014-034R.)

$54 Million Judgment

The Federal Trade Commission filed a complaint...
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