The Minnesota Attorney General reached a settlement with an online tribal lender over alleged usury and predatory lending practices, which requires financial restitution.
What changed
A settlement was reached and changes in lending practices were mandated.
Compliance perspective
Lenders should evaluate their interest rates and practices to ensure compliance with state laws.
Need help keeping up with these changes?
Tell us where you operate and what licenses you hold; we'll handle the filings and renewals so changes like this do not catch you off guard.