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Desperate Loans

Tribal Lenders’ Profits Built on High-Interest Loans

Online lenders affiliated with Native American tribes are often able to skirt state laws, offering short-term loans for 600% or more. That successful business model comes at a punishing cost for consumers.

Impact of Our Reporting
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Desperate Loans

A Tribal Lender Charging 800% APR Has Agreed to Stop Operating in Minnesota

The Lac du Flambeau tribe of Wisconsin settled a civil suit filed by Minnesota’s attorney general that alleged its triple-digit interest rates violated state caps. The tribe is under increasing legal pressure nationally over its lending practices.

by Megan O’Matz and Joel Jacobs,

5 stories published since 2024

A 700% APR Lending Business Tied to Dr. Phil’s Son Is Dividing an Alaska Tribe

by Kyle Hopkins, Anchorage Daily News, and Megan O’Matz and Joel Jacobs, ProPublica,

Tribal Lenders Say They Can Charge Over 600% Interest. These States Stopped Them.

by Joel Jacobs and Megan O’Matz,

The Tribal Lending Industry Offers Quick Cash Online at Outrageous Interest Rates. Here’s How It’s Survived.

by Joel Jacobs and Megan O’Matz,

Desperate Times Led Wisconsin Tribe to High-Interest Lending, Dubious Partnerships and Legal Jeopardy

by Megan O’Matz and Joel Jacobs,

A Wisconsin Tribe Built a Lending Empire Charging 600% Annual Rates to Borrowers

by Megan O’Matz and Joel Jacobs,

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