Illinois Consumer Files Suit Over Payday Lending “Rent-A-Tribe” Scheme

Predatory Loan Came with 664% Interest Rate

Law360 reports that a Chicago resident is seeking to strike back at alleged predatory lenders who used a Wisconsin tribe to skirt Illinois’ 36% rate cap on loans.

In a complaint filed Thursday in Illinois federal court, Tyanna Qualls took aim at a ring of LLCs — including LDF Holdings, Anong LLC and Availblue — purportedly owned by a Wisconsin tribe called the Lac du Flambeau Band of Lake Superior Chippewa Indians…