Without a doubt about Payday Lender Wins Over Southern Dakota Banking Regulator

A payday lender in Southern Dakota scored a triumph with its lawsuit resistant to the state’s banking regulator whenever a federal court judge consented that the Southern Dakota Division of Banking surpassed its authority by revoking the plaintiff’s working licenses.

The plaintiff’s due procedure liberties had been violated by the revocation, the court discovered, and also the regulator needs to have taken less action that is aggressive.

Exactly just What took place

This year, a payday home loan company sent applications for a money loan provider’s permit pursuant to Southern Dakota legislation. Continue reading