Sierra Lending: What Happened
Sierra Lending stopped lending to Michigan consumers under a 2020 settlement after the state AG sued it for rates exceeding 300%.
What happened to Sierra Lending
Sierra Lending, operated by Sierra Financial, LLC (incorporated under the Iipay Nation of Santa Ysabel and also known as Tall Grass Finance), was sued by Michigan AG Dana Nessel in October 2019 for predatory lending and alleged violations of Michigan usury law and the federal CFPA, with effective rates alleged above 300%. A 2020 settlement (assurance of voluntary compliance, ~$1.8M reported) stopped its marketing and new loans to Michigan consumers. It is also flagged as unlicensed in Washington.
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Sierra Lending FAQ
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Independent & not affiliated. Tribal Installment Loans is an independent resource and is not affiliated with Sierra Lending. Brand names are trademarks of their owners. Facts are summarized from the cited public sources.