DBO Wins Landmark Ca Supreme Court Ruling in Significant Tribal Payday Lending Case

DBO Wins Landmark Ca Supreme Court Ruling in Significant Tribal Payday Lending Case

Court Bolsters Test to choose when firms that are private to Tribal Immunity

SACRAMENTO – The Ca Department of company Oversight (DBO) today won a situation Supreme Court choice in a landmark situation relating to the problem of private payday lenders who you will need to make use of tribes’ sovereign immunity in order to avoid state certification and customer security laws and regulations.

“This ruling can be a crucial victory for California’s payday loan consumers,” said DBO Commissioner Jan Lynn Owen. “It strengthens our capability to enforce legislation prohibiting exorbitant costs and unlicensed task by doubting payday lenders’ power to inappropriately make use of tribes’ sovereign immunity in order to avoid complying with state legislation.”

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