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Connecticut probes Oklahoma tribe’s pay day loan companies

Connecticut probes Oklahoma tribe’s pay day loan companies

An Oklahoma Indian tribe that the Connecticut Department of Banking claims operates two loan that is high-interest to benefit from strapped metropolitan residents, has won at the very least a wait with its battle against imposition of $800,000 in charges.

Even though the tribe views the state that is recent Court ruling being a victory, it’ll be up to your banking division to check out other problems and determine whether or not to pursue further.

A judge recently remanded the problem back once again to the division. In the event that division would like to pursue its situation up against the Otoe Missouria Tribe, of Red Rock in north-central Oklahoma, Banking Commissioner Jorge Perez would need certainly to investigate further the links between your two organizations, Great Plains Lending, LLC and Clear Creek Lending.