CFPB sues four online tribal lenders over alleged unlawful business collection agencies

The buyer Financial Protection Bureau sued four online tribal loan providers on Thursday for presumably illegally gathering debts in 17 states where small-dollar installment loans are forbidden by state usury or licensing laws and regulations. The lenders are claimed by the CFPB— Golden Valley Lending Inc., Silver Cloud Financial Inc., hill Summit Financial Inc. And Majestic Lake Financial Inc. — …