indianz.com your internet resource indianz.com on facebook indianz.com on twitter indianz.com on Google+
ph: 202 630 8439
Kill The Tobacco Master Settlement Agreement
Advertise on Indianz.Com
Home > News > Headlines
Print   Subscribe
Indian loan firm lays off 94 employees amid mounting legal woes

Filed Under: Business | Law | National
More on: cheyenne river sioux, employment, ftc, internet, payday loans, south dakota
   

Western Sky Financial, a controversial online lender that's owned by a member of the Cheyenne River Sioux Tribe of South Dakota, laid off 94 employees amid scrutiny from state and federal officials.

Owner Martin Webb blamed authorities for forcing his company to stop making new loans. As a result, he said he had to get rid of most of his workforce, many of whom are tribal members.

“I’m deeply saddened that so many members of the Cheyenne River Sioux Tribe have had their lives turned upside down because of regulators and bureaucrats thousands of miles away,” Webb said in a press release. “Creating jobs here on the Cheyenne River Indian Reservation has been my proudest accomplishment, and its painful to know that my former employees face the prospect of long-term unemployment given the few job opportunities available to them.”

The company has been hit by complaints from several state regulators who say the loans exceed state limits. The Federal Trade Commission is also suing Western Sky.

Get the Story:
Western Sky Fires Back at State Regulators (The Wall Street Journal 9/4)

Related Stories:
Blog: State actions take toll on Indian payday loan industry (08/29)
Western Sky Employees: Fighting for our voices to be heard (8/28)
Indian online lender lays off employees and cuts new loans (8/27)
Jane Daugherty: Lawmakers defend online lending industry (08/26)
Jane Daugherty: DOJ not targeting tribal Internet loan firms (08/23)
New York sues online lender operated by Cheyenne River man (08/13)
Center: Indian Country payday lenders face increased scrutiny (8/9)
New York tells Indian Country payday firms to stop business (8/6)


Copyright © Indianz.Com
More headlines...
Stay Connected:

Local Links:
Federal Register | Indian Gaming | Jobs & Notices | In The Hoop | Message Board
Latest News:
Native Sun News: Treaty defenders to see Keystone fight to end (3/5)
Charmaine White Face: Radioactivity found in Pine Ridge waters (3/5)
Winona LaDuke: Consider marijuana and hemp in Indian Country (3/5)
Torres Martinez Desert Cahuilla Tribe launches marijuana project (3/5)
Measure reaffirms Navajo Nation policy against legal marijuana (3/5)
Lynn Armitage: Housing program aids Native violence survivors (3/5)
Oglala Sioux Tribe bans attorney in racial hockey game incident (3/5)
Military halted dig on island after questions from Pechanga Band (3/5)
Cash lenders accused of targeting tribal members in New Mexico (3/5)
Opponents not happy with land-into-trust bill for Chumash Tribe (3/5)
County can't stop Shingle Springs Band from opening gun range (3/5)
Mississippi Choctaws hold ribbon-cutting at $55M health center (3/5)
Indian skateboarding exhibit travels to Umatilla Tribes museum (3/5)
Some youth removed at center on Yerington Paiute Reservation (3/5)
Nita Battise sworn in as new leader of Alabama-Coushatta Tribe (3/5)
Laguna Pueblo supports Class III casino compact in New Mexico (3/5)
Seminole Tribe seeks approval for 537-room casino hotel tower (3/5)
Narragansett Tribe loses decision in non-Indian gaming dispute (3/5)
Ex-lawyer sentenced in Twenty-Nine Palms Band gaming scam (3/5)
Defendant pleas in robbery at Saginaw Chippewa Tribe's casino (3/5)
Editorial: Mohegan Tribe hits milestone with gaming enterprise (3/5)
Native News News: Ojibwe flautist shares message with music (3/4)
Audio: Senate Indian Affairs Committee takes up IRRIGATE Act (3/4)
9th Circuit to consider Medicine Lake sacred site dispute again (3/4)
Winona LaDuke: Ingrid Washinawatok's vision remains strong (3/4)
Tim Ballew: Northwest Indian College builds on tribal traditions (3/4)
Steven Newcomb: Domination doctrine and the Quinault Nation (3/4)
Stanley Heller: Help eliminate an Indian mascot in Connecticut (3/4)
Editorial: Mascot reflects history of violence and discrimination (3/4)
Column: Work with tribes in Washington on marijuana industry (3/4)
Navajo Nation files human rights petition to protect sacred site (3/4)
Senate fails to override Obama's veto of Keystone XL measure (3/4)
Yakama Nation woman fights tribe for custody of 12-year-old (3/4)
Chumash Tribe cheers introduction of land-into-trust measure (3/4)
Leader of Chippewa Cree Tribe ousted from office for 3rd time (3/4)
Yurok Tribe planning to debut new justice facility in the spring (3/4)
UTTC president named to panel to choose new UND nickname (3/4)
Another lawsuit filed over former federal judge's racist emails (3/4)
Cowlitz Tribe still waiting for BIA to place gaming site in trust (3/4)
Aquinnah Wampanoag Tribe hails decision in gaming dispute (3/4)
Mohegan Tribe remains interested in new casino near border (3/4)
Mashantucket Tribe joins gaming proposal in Massachusetts (3/4)
Opinion: Florida gaming expansion bill leads to less gaming (3/4)
Native Sun News: Mine proposed near Black Hills sacred site (3/3)
Native youth send video message to Obama on Keystone XL (3/3)
Lummi Nation leader moves ahead with tribal cannabis group (3/3)
BIA to award another $8M in Tribal Climate Resilience grants (3/3)
DOI to host listening session on buy-back program in Arizona (3/3)
Senate Indian Affairs Committee sets hearing on IRRIGATE Act (3/3)
Bill John Baker: Cherokee Nation improves notification system (3/3)
Patty Talahongva: Native youth become Champions for Change (3/3)
more headlines...

Home | Arts & Entertainment | Business | Canada | Cobell Lawsuit | Education | Environment | Federal Recognition | Federal Register | Forum | Health | Humor | Indian Gaming | Indian Trust | Jack Abramoff Scandal | Jobs & Notices | Law | National | News | Opinion | Politics | Sports | Technology | World

Indianz.Com Terms of Service | Indianz.Com Privacy Policy
About Indianz.Com | Advertise on Indianz.Com

Indianz.Com is a product of Noble Savage Media, LLC and Ho-Chunk, Inc.