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

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

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

“This ruling is a crucial victory for Ca’s cash advance consumers,” said DBO Commissioner Jan Lynn Owen. “It strengthens our power to enforce rules prohibiting extortionate costs and unlicensed task by doubting payday loan providers’ capability to inappropriately utilize tribes’ sovereign resistance to prevent complying with state legislation.”