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Home / Opinion Digests / No arbitration for ‘rent-a-tribe’ lending contracts (access required)

No arbitration for ‘rent-a-tribe’ lending contracts (access required)

Where plaintiffs entered into loan agreements with interest rates that far exceeded those allowed under Virginia’s usury laws, they were not compelled to arbitrate their claims as required under the contract because the arbitration clause’s attempt to disavow federal and state laws rendered it unenforceable. Background This controversy arises out of the involvement of defendants Haynes Investment ...