Oklahoma tribe agrees to pay for $48 million in order to avoid prosecution in payday financing scheme

Oklahoma tribe agrees to pay for $48 million in order to avoid prosecution in payday financing scheme

Two businesses managed by the Miami Tribe of Oklahoma have actually consented to spend $48 million in order to avoid federal prosecution for their participation in a financing scheme that charged borrowers rates of interest since high as 700 percent.

The tribe acknowledged that a tribal representative filed false factual declarations in multiple state court actions as part of the Miami tribe’s agreement with the federal government. Continue reading “Oklahoma tribe agrees to pay for $48 million in order to avoid prosecution in payday financing scheme”