Blake Sims and Justin Hosie of Chambliss, Bahner & Stophel, P.C write an informative article titled “Tribal lending titled, Tribal Loans to State Residents – The Next Test of Sovereign Immunity.” The article provides a brief history and then summarizes some key cases that relate to payday lending.
So does partnering with a Native American tribe provide immunity to your payday loan business. The answer is: It depends. You will need to get the right advice from the right attorneys. I’ve had the pleasure of working w/ Blake on two occasions and he’s great. Unfortunately, I have not have the opportunity to do a deal for the Sovereign Nation Model. I hope I get that opportunity.
Want to read more. Here is an article about the “FTC Investigates Native American Tribe Payday Loan Operation.“
