HARRISBURG вЂ” In an ruling that is important a lender and investment company accused of вЂњrentingвЂќ indigenous American tribes for a quick payday loan scheme in Pennsylvania, Attorney General Josh Shapiro announced today a federal judge has allowed the core of case filed by the Attorney General to maneuver forward. The Attorney GeneralвЂ™s lawsuit alleges that Victory Park Capital Advisors LLC, invested and participated in a scheme with Think Finance Inc. to shield it self from state and federal laws and regulations by running underneath the guise of a Native American tribe and in addition a bank that is federally-chartered. U.S. District Judge J. Curtis Joyner has rejected the majority of a defense motion to dismiss the lawsuit, ensuring the full instance will continue.
вЂњThese defendants utilized a Native US tribe as a front to evade state customer security regulations and cost greater cash advance interest levels than permitted under Pennsylvania law,вЂќ Attorney General Shapiro stated. вЂњWe filed suit to put up them accountable, weвЂ™re pleased with the courtвЂ™s ruling, and now our situation moves forward.вЂќ