Tribal-linked lenders win second RICO loan lawsuit

By Victoria McKenzie (Jan. 13, 2022, 5:40 p.m. EST) – Online lender Aaniiih Nakoda Finance LLC has been the subject of a second proposed racketeering class action lawsuit in Illinois under the Organizations Influenced and Corrupted by racketeers who accused the company of using a federally recognized tribe as a front to avoid prosecution for its illegal predatory lending program.

Illinois resident Lauren Combs told a federal judge on Tuesday that the company, which operates as Bright Lending, illegally charged it 699.99% annual interest in violation of the Lending Act. 2021 on Illinois Predatory Lending Prevention. Due to the company’s status as a “tribal lending entity,” she said, Bright Lending claims sovereign immunity from usury laws.

According to the complaint, …

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