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Federal Court Deals Blow to On Line Lending by Two Indian Tribes

Appellate Court does not enter method of ny State’s Crackdown on payday advances

A federal appeals court on Wednesday denied Indian tribes that offer online loans to ny state residents a short-term injunction that could have banned state regulators from limiting lending that is tribal.

The second U.S. Circuit Court of Appeals in Manhattan ruled and only nyc’s top regulator that is financial Benjamin Lawsky, and against two tribes that sued Mr. Continue reading