Truth Check Always: Despite In Contrast Proof, Tribal Head Claims Its Cash Advance Company Helps Community

Share This:

  • Facebook
  • Twitter
  • E-mail

RHETORIC: Habematolel Pomo of Upper Lake Chairperson Claims Tribal Cash Advance Company Is Vital to Community’s Economic Developing

“Sherry Treppa, the chairperson of Habematolel Pomo of Upper Lake, a federally-recognized Indian tribe, said that having and operating small-dollar lending companies is an essential an element of the community’s financial development strategy together with proposed rule would harm the economy that is tribe’s. The income from those companies has aided to finance Tribal government solutions such as for example training and scholarship programs, violence and committing suicide avoidance programs, along with other social solutions. ” Washington Free Beacon: “Tribe claims Regulations Will Harm Its Economic Prospects, ” 2/18/16

TRUTH: Investigative Report discovered minimal regarding the cash Generated through the Tribal Council of Habematolel Pomo’s Payday Lending Operations Went to profit Tribal users

The Tribal Council of Habematolel Pomo of Upper Lake Has Payday Lending Operations “Yet minimal of this income That Flows Through These Tribal Businesses leads to The Rancheria or Benefiting Tribal Members. ”

“And it’s no coincidence that the structure that is same houses any office associated with the tribal council associated with the Habematolel Pomo of Upper Lake. The Native American tribe’s lending enterprises have actually names like Silver Cloud Financial and hill Summit Financial, showing the indigenous American history regarding the rancheria, as they settlements are known as. The U.S. Federal federal government established them for landless Indians in Ca into the very early twentieth century, but unlike reservations, just one rancheria range from people of numerous tribes. Tribal sovereignty permits the rancherias’ businesses to claim resistance from state laws that are usury making them convenient shelters for lenders who wish to evade regulators. Continue reading →