W.Va. court enforces McGraw's subpoena against payday lender
CHARLESTON, W.Va. (Legal Newsline) - A West Virginia circuit court says an Internet payday lender claiming affiliation with a Native American tribe is not immune from a lawsuit and must comply with state Attorney General Darrell McGraw's investigative subpoena.In a decision entered Oct. 24, the Kanawha County Circuit Court also ordered the lender to cease making loans and engaging in collection activity until it does comply.
The case began last year after McGraw's office started to receive complaints from state consumers who had obtained payday loans over the Internet from Payday Financial LLC.
Payday Financial, which did business as Lakota Cash, is based in Timber Lake, S.D. It is owned by Martin A. Webb, who is an enrolled member of the Cheyenne River Sioux tribe.
Payday Financial and Webb both refused to comply with McGraw's investigate subpoena. In turn, the attorney general sued them.
Though Payday Financial, itself, is not a Native American tribe, it tried to claim tribal immunity because Webb is a tribal member.
The company also asserted it was entitled to tribal immunity because the loans made to West Virginia consumers were accepted and entered into on the reservation in South Dakota.
Kanawha Circuit Judge Louis "Duke" Bloom rejected the company's claim of tribal immunity.
Bloom said in his 10-page order that Payday Financial was organized under the laws of South Dakota, not tribal laws, and was owned and controlled by Webb individually.
The judge noted that the company failed to provide any evidence in court that it operated for the benefit of the tribe, as opposed to Webb's individual benefit and profit.
Bloom also held that the loans were made and were to be performed in West Virginia, not on the reservation in South Dakota.
West Virginia is not the first state to bring action against Payday Financial.
payday loans in maryland - News
West Virginia is not the first state to bring action against Payday Financial. Several other states, including Maryland, Colorado and Missouri, also have gone after the company because of its Internet payday lending activities in their states.
It is the only one of the Big Four banks that offers payday advance loans, which it calls “Direct Deposit Advance.” The bank argues this is not a payday loan because of additional protections it provides. But like payday loans, the interest rate of
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