On October 31, the Michigan attorney general announced it filed a lawsuit against an online lender alleging the lender violated the CFPA and Michigan law by allegedly offering usurious loans in an “unfair, deceptive, and abusive manner” with interest rates between 388 percent and 1,505 percent. The complaint alleges that the online lender is using its affiliation with a federally recognized Indian tribe located in California to circumvent Michigan’s interest rate cap, but, “is not an arm of the tribe and therefore is not entitled to assert tribal sovereign immunity from suit.” Moreover, the complaint argues that because the lender offers loans to Michigan residents, it is operating outside of tribal boundaries and, therefore, is subject to any and all applicable state and federal laws. In addition to usurious interest rates, the complaint alleges the lender misrepresented contract terms, including various rates and fees, and refused to let consumers pay off loans early. The attorney general is seeking declaratory and injunctive relief to prevent the lender from “providing usurious loans in Michigan in the future.” Notably, this is Michigan’s first-ever lawsuit alleging violations of the CFPA.