Consumer Protection Act Applies To Tribes’ Loan Businesses, 9th Circuit Rules

(January 24, 2017, 3:09 PM EST) -- PASADENA, Calif. — Three Indian tribes must comply with investigative demands made by the Consumer Financial Protection Bureau regarding their tribal payday lending companies because the Consumer Financial Protection Act is a law of general applicability and applies to tribal businesses, which are not shielded by the tribes’ sovereign immunity, the Ninth Circuit U.S. Court of Appeals held Jan. 20 (Consumer Financial Protection Bureau v. Great Plains Lending, LLC, et al., No. 14-55900, 9th Cir.; 2017 U.S. App. LEXIS 1028)....

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