Minnesota Files Suit Against CashCall (Western Sky Financial)

Complaint – Minnesota v CashCall

From an article about the suit:

Minnesota regulators are, for the first time, challenging a practice in which an Internet lender is allegedly hiding behind tribal sovereign immunity to skirt state laws.

A lawsuit filed Thursday against California-based CashCall Inc. takes aim at the rent-a-tribe phenomenon, which Attorney General Lori Swanson described in an interview as “an emerging problem” that has come under fire elsewhere.

The complaint, filed jointly by Swanson and state Commerce Commissioner Mike Rothman, accuses CashCall and subsidiaries WS Funding and WS Financial of engaging in an “elaborate ruse” to deceive borrowers and regulators and fleece them with illegally high rates on Internet loans.

A lawyer for the company would only say the lawsuit contains inaccuracies.

Previous coverage about CashCall and Western Sky Financial here.

This entry was posted in Author: Victoria Sweet and tagged , , , , . Bookmark the permalink.

3 Responses to Minnesota Files Suit Against CashCall (Western Sky Financial)

  1. Jonathon says:

    The link to the complaint is here: http://www.ag.state.mn.us/PDF/Consumer/InternetLenderScheme.pdf

    The link provided only routes us to a file on Victoria Sweet’s computer.

  2. Victoria Sweet says:

    Sorry about that. I posted the wrong link earlier. Also, thanks for posting the pdf link. I added it to the original post.

  3. Pingback: Briefs in Minnesota v. CashCall (Western Sky) | Turtle Talk

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