While Western Sky Financial continues making sky-high interest rate loans, other payday lenders who claim tribal affiliation have been targeted by the Federal Trade Commission. The FTC’s latest action sends a message that lenders cannot skirt state usury limits by hiding behind the teepee.
As further insult to Native Americans, most of these payday loan companies are not run by tribal associations. Instead, they are owned by individuals who claim tribal affilitation as a means for ignoring state usury laws.
Payday Financial LLC was previously sued in 2011 for violations of debt collection consumer protection laws. Now AMG Services Inc and a whole slew of related entities are being sued by the FTC for similar violations. Among the violations include failing to properly disclose the cost of the loans in advance, which is a violation of the Truth in Lending Act. They also threatened to arrest debtors for nonpayment of their loans, which violates the Fair Debt Collection Practices Act.
Action has been taken against the following defendants:
- AMG Services, Inc.
- Red Cedar Services, Inc., d/b/a 500FastCash
- SFS, Inc., d/b/a OneClickCash
- Tribal Financial Services, d/b/a Ameriloan
- UnitedCashLoans
- USFastCash
- Miami Nation Enterprises
- AMG Capital Management, LLC
- Level 5 Motorsports, LLC
- Leadflash Consulting, LLC
- Partner Weekly, LLC
- Black Creek Capital Corporation
- Broadmoor Capital Partners, LLC
- The Muir Law Firm, LLC
- Scott A. Tucker
- Blaine A. Tucker
- Timothy J. Muir
- Don E. Brady
- Robert D. Campbell
- Troy L. Little Axe
- Park 2679, LLC (relief defendant)
- Kim C. Tucker (relief defendant)
Level 5 Motorsports, LLC was not actively involved in the payday loan operation. However, it was that entity owned by Scott Tucker which siphoned off $40 million in profits to go toward sponsorship of his racing team.
While these firms are getting sued and shut down one at a time, all eyes are still on Western Sky Financial due to its claimed tribal affiliation and high profile television advertising campaign. It is this relationship that leads the Western Sky ownership to believe they are exempt from state usury laws.
Long is a graduate of the University of North Carolina at Chapel Hill with a B.A. in Industrial Relations. He subsequently received his Certificate in Nonprofit Management from Duke University. His Certificate in Financial Planning was issued by Florida State University.
Long has achieved the Accredited Credit Counselor and Accredited Financial Counselor certifications through the Association for Financial Counseling, Planning and Education. Long originally achieved the Certified Credit Counselor designation through the National Institute for Financial Education.
In addition to years of nonprofit leadership, Long has been an innovator in the field of volunteer tax return preparation programs. He assists volunteer associations and nonprofit organizations who seek to integrate credit counseling and asset-building programs with free personal income tax preparation. His approach to using free credit reports as both an incentive and a screening tool for placement into asset-building programs has been shared with members of the National Community Tax Coalition, the EITC-Carolinas Initiative of MDC, Inc. and nonprofit groups across the Carolinas.
Long assists members of our armed forces in the Carolinas, Iowa, Rhode Island, Georgia and Germany with financial readiness. Please support our Soldiers, Marines, Airmen and Sailors!
Favorite quote:
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."
Thomas Jefferson
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