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    Tribal lenders fight federal agency investigation

    A California federal court recently issued an order granting the CFPB’s petition to enforce its civil investigative demands (CIDs) issued to three tribally-affiliated payday lenders. However, the court also granted the lenders’ request for a stay pending their appeal to the Ninth Circuit. Although the CFPB did not oppose the stay, the court nevertheless found that if its decision was wrong, the lenders were likely to suffer irreparable harm because of the disclosure of sensitive proprietary documents to the CFPB whereas the CFPB would not be injured by a temporary delay.

    Source indianz.com

    Notes

    1. nativeamericannews posted this

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