Tribal lender Western Sky getting out of payday loan business

Yesterday, we told you about declaratory judgment suits by Native American tribes against New York regulators seeking the right to make otherwise usurious payday loans on the ground that the tribes' sovereign immunity allows them to operate free from state usury laws. Now comes word that another payday lender, Western Sky, owned by a Cheyenne River Sioux member and operated on the tribe's reservation in South Dakota, is going out of the payday loan business. It claims sovereign immunity, too, but says it just can't afford to defend suits by states claiming usury. Read about it in this article by Danielle Douglas.

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