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The loans cash pawn loans often made through a separate lead generator called MoneyMutual. com, which uses former talk-show host Montel Williams to promote its loans, sources told The Center for Public Integrity. Neither MoneyMutual. com nor Williams were named in the lawsuit. The loans are made under several brand names, including OneClickCash, UnitedCashLoans, USFastCash, Ameriloan and 500FastCash.
This is not the first case the FTC has brought against tribal payday lenders.
Yet little of the revenue that flows through these tribal businesses ends up in the rancheria or benefiting tribal members, as attested by the cluster of rundown houses nearby, where cash pawn loans members of cash loans manchester nh tribe live.
They cash pawn loans look like villainous tycoons preying on low-income Americans. They look more like those cash-strapped loan customers themselves. The payday lending enterprises are not operated out of the settlement, and Habematolel Pomo members interviewed on a recent visit said none of them had any jobs related to payday lending.
In fact, there are few jobs of any kind here. William Snow, 51, left the settlement straight out of high school. вЂњThereвЂs nothing for young folks to do around here,вЂќ he said.
Today at least seven of the 45 rancherias in California are involved in online payday lending вЂ though it is unclear to what extent they actually manage the businesses with which they are affiliated.
In all, some 30 Native American tribes are in the industry, according to Barry Brandon, who heads the Native American Financial Services Association, a trade organization for tribal payday lenders.
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