Ninth Circuit affirms tribal loan providers topic to CFPB investigative needs

Ninth Circuit affirms tribal loan providers topic to CFPB investigative needs

The Ninth Circuit recently issued its viewpoint in CFPB v. Great Plains Lending, LLC, et al., by which three tribal-affiliated, for-profit financing businesses (“Tribal Lenders”) challenged the authority associated with CFPB to issue civil investigative needs (CIDs) against Native United states tribes.

In 2012, the CFPB issued CIDs up against the Tribal Lenders regarding their marketing, advertising, origination, and assortment of small-dollar loan items. As a result, the Tribal Lenders stated that the CFPB lacked jurisdiction to analyze them and, after their offer of cooperation ended up being refused because of the Bureau, challenged the CIDs in a Ca federal court. The region court granted the CFPB’s petition to enforce the CIDs additionally the Tribal Lenders appealed. Continue reading “Ninth Circuit affirms tribal loan providers topic to CFPB investigative needs”