) — the initial nature of indigenous American reservations, as lands that run as “tribal enterprises” with sovereign legal rights, has resulted in an increase in so-called cash advance companies chartered there.
Proponents and opponents alike of these loans, and comparable alternative financing offerings, are viewing to see perhaps the Dodd-Frank Act as well as its slate of economic reforms will rein such enterprises which have mostly escaped the reach of state regulators and consumer financing regulations.
Payday advances offered by loan providers which claim to considering tribal lands may face economic reform fallout. [Read more...]