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Indian tribes gambling on high-interest loans to increase income

Indian tribes gambling on high-interest loans to increase income

In the middle of the Ottawa National Forest, there clearly was a native reservation that is american snowdrifts mark the primary road into city. By the end of this city, there clearly was a casino with penny slots and a three-story hotel. In the rear of that resort, there clearly was a locked, unmarked home with a punch rule. And beyond that home is really a repurposed ballroom, when utilized for wedding receptions, where 11 workers — backed by a Wall Street hedge investment, sustained by way of a call center within the Philippines — now sell loans online to credit-constrained Americans at annualized interest rates of 780 percent.

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