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Rather, they might continue straight contrary to the non-tribal parties whom finance, manage, help, or abet tribal financing
offered the possibility of protracted litigation in connection with CFPB’s authority over TLEs, it is really not unthinkable that the CFPB will assert that authority into the forseeable future and litigate the problem to finality; the CFPB is not counted on to postpone doing this until this has determined its financial research pertaining to payday lending (by which TLEs can’t be anticipated to hurry to cooperate) or until litigation throughout the recess appointment of Director Cordray happens to be solved.
TLEs, anticipating action that is such will desire to start thinking about two distinct strategic reactions.
In the one hand, looking to protect on their own from direct assaults because of the CFPB underneath the “unfair” or “abusive” requirements, TLEs might well amend their company techniques to create them into line with all the demands of federal consumer-protection guidelines. Many TLEs have done this. It stays a available concern whether also to what extent the CFPB may seek to hire state-law violations being a predicate for UDAAP claims. Continue reading Rather, they might continue straight contrary to the non-tribal parties whom finance, manage, help, or abet tribal financing
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