Sovereign reach?
Authorities allege this 1 loan provider in particular, South Dakota-based Western Sky Financial LLC, has preyed on debt-burdened consumers — asking extortionate prices, running without state licenses, and forcing borrowers to fight garnishments before a court that is tribal lacked jurisdiction over their instances.
Western Sky, that has promoted in Minnesota, didn’t answer MinnPost’s needs for remark. The company lists 17 states where its loans are not available on its website. Minnesota just isn’t detailed. A Minnesota borrower might assume the company has the right to lend in the state in other words.
Is the fact that true? Minnesota legislation requires that loan providers be certified, and Western Sky is certainly not among licensees noted on the continuing state Commerce Department “license lookup” website.
But that’s in which the sovereignty argument begins. Western Sky’s internet site emphasizes so it “is a indigenous us business running in the external boundaries of this Cheyenne River Sioux Reservation, a sovereign country situated in the united states of america of America.”
Further, it states: “All loans will likely be topic solely to your exclusive rules and jurisdiction associated with Cheyenne River Sioux Tribe, Cheyenne River Indian Reservation. Continue reading “Western Sky, which includes promoted in Minnesota, failed to react to MinnPost’s needs for comment.”