An online lender owned and operated by the Lac Vieux Desert Band of Lake Superior Chippewa Indians, a federally recognized Indian tribe (вЂњTribeвЂќ), and Ascension Technologies, LLC, the TribeвЂ™s management and consultant company successfully established that they are each arms of the Tribe and cloaked with all of the privileges and immunities of the Tribe, including sovereign immunity in a recent decision by the Fourth Circuit, Big Picture Loans, LLC. As back ground, Big Picture Loans and Ascension are two entities formed under Tribal law because of the Tribe and both are wholly owned and operated because of the Tribe. Big Picture Loans provides customer financial services products online and Ascension provides marketing and technology solutions solely to picture that is big.
Plaintiffs, customers who’d removed loans from Big image Loans, brought a putative course action into the Eastern District of Virginia, arguing that state legislation along with other various claims put on Big Picture Loans and Ascension. Read More