4:00am

Mon February 7, 2011
Business

Tribal Land Helps Payday Lenders Skirt State Laws

Nearly 20 states have banned payday lenders, or imposed interest rate caps that discourage such companies from setting up shop. A report shows some payday lenders are finding a way around these limits by teaming with Native American tribes. Mike Hudson, who wrote the report for the Center for Public Integrity, talks to Renee Montange about how the lenders are taking refuge under tribal sovereignty laws.

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