The entire online payday lending industry brought in nearly 4. 3 billion in revenue in 2012. Until last year, when federal regulators started cracking down on tribal payday lending businesses, they constituted about a quarter of the online payday lending industry, said John Hecht, an analyst who specializes in payday loans.
CaliforniaвЂs rancherias are located 551 credit score personal loan remote parts of the state, and have little land and a dispersed membership. There are few economic options for them: Casinos, the traditional revenue generator for tribes, are not always viable, especially in far-flung places. The Habematolel Pomo know this. Most of the rancheriaвЂs land is already occupied by the wigwam-shaped Running Creek casino, which opened in 2012.
But Running Creek, with its 349 slot machines, six gaming tables and two restaurants, has failed to live up to its promise.
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