User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Michigan Targets SD Internet Lender For High Rates

August 1, 2013, 4:46 PM

Michigan Targets SD Internet Lender For High Rates
LANSING, MI -

Michigan regulators have cited a South Dakota-based Internet lender that they say is charging interest rates of more than 340 percent.

The state Department of Insurance and Financial Services said Thursday that it's given notice of Michigan's intention to issue a cease-and-desist order to Western Sky Financial. State officials say Western Sky is charging loans fees of as much as 70 percent of the loan amount, 14 times the legal limit.

The company has a September 24 hearing before any final order.

Western Sky is owned by a member of the Cheyenne River Sioux Tribe. Company spokesman Patrick Dorton says federal Indian law and tribal regulations govern Western Sky.

Dorton says the company gives customers "quick and easy financing ... with loan terms that are clear and upfront."

Previous Story

Next Story


Sponsored
Find Local Businesses on KELO Pages!

View business

You may also like

Other Place Bar And Grill Closed In Sioux Falls

2/24/2015 12:51 PM

According to its Facebook page, The Other Place Bar and Grill has closed. (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.g...

Full Story
Touch Of Europe Permanently Closed

2/25/2015 4:29 PM

The Touch of Europe restaurant will be closed for good.

Full Story
Sioux Falls Approaching 'Magic Number'

2/23/2015 10:10 PM

It's a number that can support bigger businesses, more retail and restaurants.

Full Story | Watch
Pizza Restaurant Coming To Downtown Sioux Falls

2/25/2015 11:40 AM

Montana-based MacKenzie River Pizza is scheduled to open its first South Dakota location on September 1 at 11th Street and Main Avenue.

Full Story
Catholic School Tuition Hike Largest In Years

2/25/2015 3:10 PM

Sioux Falls Catholic Schools are facing a $5 million gap between tuition and what it cost to run the schools.  

Full Story | Watch


Events