Combs v. LDF Holdings, LLC et al.
A lawsuit states LDF Holdings and you may Midaaswi keeps run an unlawful “rent-a-tribe” lending system by which obtained recharged usurious rates of interest having small loans.
A recommended class step states LDF Holdings, LLC and you can Midaaswi, LLC provides manage an illegal credit scheme whereby they have charged Illinois owners usurious interest levels for brief money when you’re purporting as with the an indigenous American tribe so you can top liability.
The 27-webpage lawsuit alleges LDF and you may Midaaswi, who does business since the Federal Quick Financing, inside what is actually grow to be labeled as a beneficial “rent-a-tribe” design, possess cheated brand new tribal immunity system of your own Lac du Flambeau Band from Lake Superior Chippewa Indians in return for providing a small part of revenues regarding the so-called payday credit procedure.