An online lender owned and operated by the Lac Vieux Desert Band of Lake Superior Chippewa Indians, a federally recognized Indian tribe (“Tribe”), and Ascension Technologies, LLC, the Tribe’s management and consultant company successfully established that they are each arms of the Tribe and cloaked with all of the privileges and immunities of the Tribe, including sovereign immunity in a recent decision by the Fourth Circuit, Big Picture Loans, LLC. As history, Big Picture Loans and Ascension are two entities formed under Tribal legislation by the Tribe and both are wholly operated and owned because of the Tribe. Big Picture Loans provides customer financial services products online and Ascension provides marketing and technology solutions solely to Big photo Loans.
Plaintiffs, customers that has applied for loans from Big image Loans, brought a putative course action when you look at the Eastern District of Virginia, arguing that state legislation as well as other various claims put on Big Picture Loans and Ascension. Pokračovat ve čtení „Big Image Loans Lands Big Profit for Tribal Lenders in Sovereign Immunity Case“