Consent order bars Internet lender from Nevada

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Updated: 12/31/2013 6:32 am

CARSON CITY, Nev. (AP) — An Internet lending firm has agreed to pay a $50,000 administrative fine and stop originating loans in Nevada.

The state Financial Institutions Division announced a consent order Monday with Western Sky Financial LLC, which is not licensed in Nevada.

Officials in June issued a cease and desist order preventing Western Sky from lending without a license.

The company then requested an administrative hearing, which resulted in the consent order.

Under the agreement, the cease and desist order becomes permanent and loans made by the company cannot be enforced or collected through legal action.


©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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oldguyincc - 12/31/2013 11:14 AM
0 Votes
Just for fun, and to see what propaganda looks like, take a look at www.westernsky.com. This financial business says that states like New York, and others, have taken unwarranted action to cause them to close down. The business is owned by the Cheyenne River Sioux tribe, operates from their reservation, and is not subject to state laws.

nvflash - 12/31/2013 10:37 AM
0 Votes
It could be their 89% to 342% interest rates could be an issue as well.
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