The Otoe-Missouria Tribal Nation is suing the Connecticut Department of Banking over the agency's efforts to curb the payday loans the tribe offers over the Internet, The Connecticut Law Tribune's Jay Stapleton reports. The tribe argues Connecticut's administrative enforcement action to stop its payday-loan businesses violates its tribal sovereignty. The tribe's lending companies charge up to 700 percent.
The U.S. Court of Appeals for the Second Circuit ruled against tribal immunity in a similar lawsuit.
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