Attorney General Shapiro Announces a Profit in the event against Investment company involving “Rent-a-Tribe” Payday Lending Scheme

Attorney General Shapiro Announces a Profit in the event against Investment company involving “Rent-a-Tribe” Payday Lending Scheme

HARRISBURG — In an ruling that is important a lender and investment company accused of “renting” indigenous American tribes for a quick payday loan scheme in Pennsylvania, Attorney General Josh Shapiro announced today a federal judge has permitted the core of case filed because of the Attorney General to maneuver forward.

The Attorney General’s lawsuit alleges that Victory Park Capital Advisors LLC, invested and took part in a scheme with Think Finance Inc. to shield it self from state and federal regulations by running beneath the guise of an indigenous American tribe as well as a federally-chartered bank. U.S. District Judge J. Curtis Joyner has rejected almost all of a denied nearly all of a defense movement to dismiss the lawsuit, ensuring the situation will continue. Continue reading Attorney General Shapiro Announces a Profit in the event against Investment company involving “Rent-a-Tribe” Payday Lending Scheme