This thirty days, Scott Tucker, a payday lender just who utilized their profits to invest in a LeMans racing group, had been sentenced to 16 years in prison on national racketeering along with other costs. Final autumn, their business that is former partner Hallinan, referred to as Philadelphia Main Line “godfather” of payday lending, has also been found guilty of national racketeering fees. Tucker and Hallinan’s primary business structure? Their claim that their pay day loan companies had been for the benefit of Native American tribal lovers and consequently subject to immunity that is tribal. The respected interest that is public firm Public Justice speculates: “Tribal Immunity” may not any longer become a Get-Out-of-Jail Free Card for payday loan providers.” Now it’s time.

Writer: Ed Mierzwinski

Begun on staff: 1977B.A., M.S., University of Connecticut

Ed oversees U.S. PIRG’s consumer that is federal, helping lead nationwide attempts to really enhance credit reporting regulations, identification theft defenses, item security regulations and much more. Read More “The End for “Rent-A-Tribe” Payday Lending Schemes?”