Definition of «tribal lenders»

The term "Tribal Lenders" refers to a group of companies that offer short-term loans. These companies are regulated by Native American tribes, which have sovereign authority over their lands and people. The tribal lenders operate under the umbrella of this sovereignty, allowing them to provide services such as payday loans or installment loans that may not be available through traditional banks. These types of loans can come with high interest rates and fees, making them a potentially expensive form of credit.

Sentences with «tribal lenders»

  • When borrowers don't have enough money in their checking accounts to pay back the loans, many tribal lenders automatically rollover their loans, causing additional fees and interest costs. (etfbase.com)
  • Potential lenders displayed on this website may include both state licensed loan providers as well as tribal lenders. (nation21loans.com)
  • This means they not only connect you to lenders from the US but also tribal lenders who can operate even if state laws forbid payday or title loans. (finder.com)
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