Tribal loan providers claim directly to charge 448% on loans in CT

An Oklahoma tribe and its particular allies are fighting a appropriate, marketing and social-media war in Connecticut, claiming the right being a government that is sovereign make unlicensed short-term loans at astronomical interest levels in defiance of state usury guidelines. Functioning on consumer complaints, hawaii Department of Banking fall that is last a $700,000 fine and ordered two online loan providers owned by the Otoe-Missouria tribe of Red Rock, Okla., to stop making small, short-term…