Two days after announcing it would re-evaluate its payday lending final rule, the Consumer Financial Protection Bureau dropped a lawsuit against online companies owned by the Habematolel Pomo of Upper Lake (HPUL) tribe. The bureau’s allegations centered on the companies’ practices involving short-term, small-dollar loans.
HPUL Chairperson Sherry Treppa called the bureau’s decision to drop the suit a victory for her tribe and for tribal sovereignty rights.
Read on to find out more details about the case.