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.


42° 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!

 

Most Popular Today


Timber Lake Overnight Loan Company Sued

November 20, 2012, 12:03 PM by Ben Dunsmoor

Timber Lake Overnight Loan Company Sued
TIMBER LAKE, SD -

A South Dakota company advertising its high-interest signature loans on national TV and radio is under scrutiny by several states and the Federal Trade Commission.

Martin 'Butch' Webb, who is a member of the Cheyenne River Sioux Tribe, is running his businesses from Timber Lake on the Cheyenne River Indian Reservation.

Western Sky Financial is one of Webb's companies.  It offers up to $10,000 in signature loans overnight.

But when you take a look at some of the interest rates on the loans on the company's website, you'll find an $850 loan can have up to a 343 percent interest rate.

Attorneys General from Colorado and Missouri and the Maryland Commissioner of Finance and Regulation have filed lawsuits against Webb and his loan companies.

The Federal Trade Commission has also filed a lawsuit saying Webb's companies on the reservation are engaging in unfair and deceptive credit practice and illegally garnishing wages.

But in one case a lawsuit in Illinois against Western Sky was thrown out because the loan agreements say any disputes with the company have to be settled under tribal law on the reservation.

We'll tell you why the company is coming under scrutiny nationally, while at the same time providing valuable jobs on the Cheyenne River reservation, tonight on KELOLAND News.

Previous Story

Next Story


Comments





Sponsored
Find Local Businesses on KELO Pages!

View business

You may also like

Huset's Speedway Purchased By Badlands Group

4/21/2015 5:18 AM

The longtime sprint car track near Brandon will be renamed Badlands Motor Speedway after the 2015 season.

Full Story
Shoppers Swarm Target For Designer Product Line

4/20/2015 1:14 PM

The retailer released its Lilly Pulitzer for Target collection, and many stores were sold out within minutes.

Full Story
Huset's Speedway Sold

4/21/2015 6:00 PM

Started back in the late 1950s, Huset's Speedway is almost as old as the dirt the cars race on.  But that's about to change.

Full Story | Watch
Multi-Million Dollar Athletic Center Planned For Sioux Falls

4/21/2015 5:03 PM

Plans are in the works for a 40,000 square foot athletic training center in southeast Sioux Falls.  With the Pentagon and the new tennis facility...

Full Story | Watch
Amazon Distribution Center In Shakopee Could Employ 1,000

4/22/2015 6:03 AM

The online retailer is asking the city of Shakopee for about $5 million in tax breaks to build the 820,000-square-foot center and warehouse.

Full Story


Events