Illinois man accuses online tribal lenders of predatory lending
Posted onAuthorLucy W. SmithComments Off on Illinois man accuses online tribal lenders of predatory lending
By Victoria McKenzie (January 26, 2022, 8:44 PM EST) – An Illinois debtor has filed a class action proposal against a group of online tribal loan companies for allegedly issuing illegal high-interest loans , adding to a trend of similar complaints across the country that accuse unscrupulous lenders of using the tribes as a mere front to gain immunity from lawsuits.
Joshua Kalkbrenner sued West Side Lending LLC and Wolf River Development Co. in federal court in Illinois on Tuesday, claiming the companies only claimed to be owned and operated by the Menominee Tribe of Wisconsin. But according to Kalkbrenner – as well as other borrowers who have sued tribal lenders in Illinois, Oklahoma, California…
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