Despite lawsuits, prosecutions and federal crackdown attempts, the tribal lending industry has adapted for over a decade, providing exorbitant loans to millions of financially vulnerable consumers.
Reporting Highlights
  • Industry Clout: Lobbying efforts have thwarted attempts in Congress to rein in tribal lenders and their triple-digit interest rate loans.
  • Regulatory Retreat: A decade ago, federal regulators had the tribal lending industry on the ropes, but their aggressive efforts faced pushback and then reversals under Trump.
  • An Uncertain Future: The Consumer Financial Protection Bureau was hamstrung for years. The Supreme Court validated its legitimacy, but a second Trump administration may push for its demise.