The Consumer Financial Protection Bureau has filed a brief in a federal court siding with "Benjamin Lawsky, New York’s top financial regulator, against a lawsuit from two western Native American tribes," The Daily Caller reported. The tribes sued over cease-and-desist letters sent by Lawsky over the online payday loan businesses. Lawsky contend that the interest rates charged by the businesses for their loans are too high, while the tribes argue that they are sovereign entities and they follow federal law, The Daily Caller further reported.
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