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

Court Bolsters Test to determine Whenever Personal Businesses Entitled to Tribal Immunity

SACRAMENTO – The Ca Department of company Oversight (DBO) today won a situation Supreme Court choice in a landmark instance relating to the dilemma of private lenders that are payday attempt to utilize tribes’ sovereign immunity to prevent state certification and customer security guidelines.

“This ruling can be a win that is important California’s payday loan consumers,” said DBO Commissioner Jan Lynn Owen. “It strengthens our capability to enforce legislation prohibiting exorbitant charges and activity that is unlicensed doubting payday lenders’ capacity to inappropriately make use of tribes’ sovereign immunity in order to prevent complying with state legislation.”

The court established a step-by-step analysis for determining whenever affiliated entities are rightfully eligible for a tribe’s sovereign immunity. Continue reading