THE TRIBAL LENDING ENTERPRISE: WHAT YOU NEED TO DO TO PROTECT YOURSELF
Published: Wed, 05/13/20
Recent cases show that anyone providing services to a Tribal Lending Entity, or even to a service provider of a TLE, should be concerned about potential lawsuits.
This includes owners and C‑level officers of lead providers, marketing companies, loan management system providers, payment processing companies, funding providers, consultants, etc. Given these large payouts, we anticipate that the class actions firms will only get more aggressive. They smell blood in the water.
The Think Finance and American Web Loan settlements of $55 million and $141 million, respectively, are real-world examples of just how risky these businesses are.
In view of the above, please ask yourself these two questions:
Are you confident that you will never be sued?
Are you confident that if you are sued, you will be treated fairly by the U.S. legal system?
Assuming you answered NO to either of these questions, and you are financing, servicing, or in any way connected to a TLE, what should you do to protect yourself in view of these risks? READ MORE to get the answers...
Short link: https://geni.us/TribeProtection
https://thebusinessoflending.com/the-tribal-lending-enterprise-what-you-need-to-do-to-protect-yourself/