[author: Barbara S. Mishkin]

Native American tribal payday lending is on the radar screens of the CFPB and the FTC, as reflected in recent comments from CFPB Director Richard Cordray and FTC Commissioner Julie Brill. More specifically, the agencies have been raising questions about the use of tribal immunity as a defense to state usury laws. In response, the tribal lending industry has defended the legitimacy of tribal immunity and highlighted the boost to economic development that internet lending has provided for individuals living on reservations. We think a recent article by Carter Dougherty provides a good primer on the debate surrounding tribal lending.