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Address: PO Box 231, Lac du Flambeau, Wisconsin, United States, 54538
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I received an email for approval of a loan I have no recollection of applying for. The loan was in the amount of $700. At the time I hadn’t even considered applying for a loan but the timing was when I was behind on my mortgage so figured hey why not take the $700 it would help with the payment. Before doing so I contacted Amplify because I had several questions. While on the phone with the representative I was also on my computer looking for the email she said she was sending. After opening up the “Contract” if you will I noticed that for a $700 loan they was adding over $1900 in interest which would bring the total amount to pay the loan back was around $2300. I told the representative I was not interested in completing the process because that was ridiculous to have pay back triple the amount for a $700 loan. She preceded to say that I would only have to pay back the $700 and one payment of the noted bi-weekly payment of $223.12. Which was also ridiculous they wanted 12 payments of $223.12 on a bi-weekly basis. Once she said that was all I would have to pay I went ahead with that agreement she had given me. I have now paid $892.52 literally $71.08 shy of the total amount I was told I would have to pay back. I called to pay the $71.08 that I believed was all I needed to pay to cover the $923.12 loan amount I was told but was given the run around to say the least. I had to call back several times just to speak to someone only to be told that the total amount I would have to pay in the amount of $923.12 was not accurate. That would have to make 8 more payments of $223.12. Like I mentioned before I would never have agreed or accepted the loan for $700 only to have to pay back $2200 plus dollars. The individuals are rude no one is professional they give you the run around without any resolution. Again I never even applied for this loan from the beginning. I had a similar situation but it was by phone. Someone claim to be from some loan company stating I was approved for a loan of $5000. All I needed to do was furnish my bank information. I know there are many scams going on but I didn’t think that I would be scammed to this degree. These companies prey on individuals with these high payments and interests and before you know it your stuck in a worst situation than what you originally started out in.
Again I was told that I would only have to pay the $700 and one payment of $223.12 for a total of $923.12 of that I’ve paid $882.52. I was willing to pay the $71.08 but after being told that I had to pay close to almost $1400 more to pay this loan off. I don’t want to pay not one penny more to this company. They are fraudulent, misleading and very unprofessional. There is no way in the world I can afford to pay $223.12 every two weeks for an additional four and a half months. I want nothing else to do with this company. I want them to accept the almost $900 i’ve already made it payments which includes the $700 for the amount the loan was for originally. After investigating companies like these can’t even offer loans in the states the operate out of. What is the deal with “Tribal Companies” they should not be allowed to operated with these ridiculous rates and payment amounts. They should be held to the same regulations that banks and credit unions follow.
Please be aware of these loans that are ran by “Tribal Companies” they prey on hard working class people that may find them in a jam and need a little financial help for a short period of time. I want complete separation from this loan and company I feel completely bamboozled I would never ever ever in a million years agreed to such an absurd agreement as the one the offered.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
[Please type your response here.]
I do not accept the resolution to my complaint by Amplify Funding. My decision has been made based on the principle amount of $632 that they are saying that I still owe. I have already made 4 payments in the amount of $223.12 for a total of $892.48. The initial loan amount was for $700. So how is it that they are saying that I still owe a little over $632. If all fees and interest has been waived there is no way I still owe $632 as the principle balance. What about the $892.48 that I already paid? Not to mention that another $223.12 is due to come out on 7/26 that will bring the total amount I will have paid to $115.60 which will be $411.60 more than the original loan of $700.00. If I was to pay them the $632 they are now claiming to be the principle balance on top of the $892.48 I have already paid that will be $1524.48 and if you add the payment that’s due to come out 7/26 than it will be $1747.60 which will be close to three times the amount of the original $700 loan amount.
I feel the amount I have already paid should be sufficient enough. As I stated in my complaint I was informed by a representative that all I would have to pay was a payment of $223.12 in addition to the $700 the amount of the original loan taken. Which would only be a total of $923.12 that I was required to pay back. I have paid that almost with the exception of $71.80. That is the only amount I’m willing to pay based off of what I was told. Not an additional $632 that they are now claiming to be the principle balance. This makes no sense when the principle amount borrowed was $700 and I have already paid $892.48. I don’t have that kind of funds to pay on top of what I have already paid on top of the payment that’s due to come out of my account. I would never have taken the loan if was told that. This is a rip off and is now putting me in a very uncomfortable and compromising situation as far as my financial state. I just want to be done and over this mess has been a true nightmare.
Regards
Please see attached that includes:
The customer was not satisfied with the resolution of the complaint because of the loan’sinterest. The customer had been advised prior to signing the contract the loan does incur interest andfees. All payments made have gone to the principal amount of the loan, the interest and fees. Theoutstanding principal balance is currently $632. The customer can refer to her signed loan agreementfor further information or is welcome to call the Customer Service hotline at 1-877-558-1999.
Please see attached that includes:
Although not required to do so, as a courtesy, the Company is willing to waive the fees andoutstanding interest and settle the account for the remaining principal balance of $632.44. She cancontact one of our Customer Service Representatives at 1-877-558-1999 and we will gladly assist in
setting up the arrangement.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I. reviewed appear below.
I do not agree with Amplify's response to my complaint.
They first stated the fees and interests would be waived but now in there reply they are stating the $632 is for interests and fees. Like I stated in my last response I'm willing to pay the $71 and change that would equal to the $900 I was told over the phone would be the amount I would have to pay. Not only that they have since sent this account to collections which will probably end up being more money that they will try to get from me. I have contacted my bank about this matter as well. To see what options I have to keep them from taking money out of my account.
This business prey on innocent citizens and give out false information. There is no way I would have ever accepted this agreement with terms like that. Nor would I be wasting my time to place a complaint with the Revdex.com if the information I was given wasn't true. I will continue to fight for my rights and what I believe in and make sure to spread the word regarding Ampfiy Funding and their outrageous antics. Companies like them should not be allowed to operate. Clearly, there is an issue with there process if they can't even offer loans to the citizens in the state in which they operate.
I refuse to pay $632 in anything don't care what it is.
Regards
Asked for a $1000.00 loan was told I qualified for a $1200.00 loan @ 4.00% and I would be paying it off in 4 months but I was going to pay it off and found out I owed over $4000.00 ??? WHAT? I was shocked I called amplify and was told I owed over $4000.00 @ 400% interest this is absurd
Please see attached response that includes:
As a courtesy, even though not obligated to do so, the Company would like to offer the customer a discount and waive the interest and fees on his loan. The current principal balance of his loan is $1,146.19. He can contact a Customer Service Representative at 1-877-558-1999 and we will gladly assist in making this arrangement.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
Rip off company. Unfortunately I knew what I was getting into with the payments on a $200.00 loan. Before my first payment was due I called to tell them I wanted to pay this off. I told them it was with a credit card. They said they don't accept them as they don't have the means to read a credit card. What? Crazy. Can only be paid with your ach account on file or check or money order. Never heard of such a thing. I am stuck with this loan until I can get the money into my checking. Each day that goes by the interest piles up. This is a total crime.
Predatory lending - 742% interest, not ilcensed in Minnesota
Please see attachment that includes:
The Company has addressed the concerns with customer and have come to an agreement onher loan.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
On October 10, 2018, I took out a payday loan with subject business. Due to unexpected financial problems, I was not able to make my May 2019 payment which was returned to the company. I advised the company I was having difficulty meeting the payment schedule. At that point I had paid back over $1700 on a $1000 loan. I inquired about the possibility of making some arrangements. I was told that it wouldn't be a problem and someone from their internal collection department would contact me. It never happened. I called them for a status update. I was told that my account had been turned over to their outside collection company. They didn't follow their promise. As a 100 percent disabled veteran, I find this very discouraging. Thank you in advance for your assistance in this matter.
Please see attachment that includes:
As a one-time courtesy, the Company has closed the subject account. The Company willconsider the account as paid in full and it will waive the outstanding balance.
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 13668217, and find that this resolution is satisfactory to me.
Regards,
James Norton
I borrowed $1000. I have paid for 11 Months and my last payment is next month. I will have paid them over $3100 in interest. My fault will never use them again. What a rip off!
The company Amplify added funds to my account that I thought was from my school refund. I didn’t authorize them for a loan. I was scammed by someone. They took out 387.62 on 6/14/19. They deposited $1200.00 on 6/25/19. The deposit said online payment and that’s why I thought it was from my school refund. I would like to resolve the matter for the remaining $812.38. When I called they said I signed it electronically and I did not. They said I gave the routing number to my account, I did not. Someone was trying to use my information and gain access to my account I believe. I have stopped payments from them and would like to resolve the matter, but they will not listen to me. The customer service just keeps arguing with me. I would just like to pay the remaining and be done with this nightmare!
Please see attached that includes:
The complainant received a deposit of $1,200 in loan proceeds after the Company processed aloan application in her name. The Company has received $387.62 in loan payments. The complainantoffers to return the remaining $812.38 to close the account because she believes that she did not applyfor the loan. The Company appreciates the complainant’s offer. If the customer returns the remaining$812.38 in loan proceeds, the Company will close the account. The customer can either (1) call theCompany at 1-844-388-0500 to set up an ACH or debit card payment or (2) mail a cashier’s check or moneyorder for the sum of $812.38 to the Company’s address below:Niswi LLCPO Box 542Lac du Flambeau, WI 54538
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
My name is ***. I took out payday loan with amplifylending for 800.I have been making payments without fail and have paid a total of 1375. I am according to the company still obligated to pay an additional 900 dollars. This is ridiculous. I was not informed about additional interest on loan. I feel this is paid in full and should not have to make additional payments.
Please see attached document.
As a courtesy, even though not required to do so, the Company has closed the customer’saccount. It will consider the account paid in full and it will waive the outstanding balance.
I borrowed $1100 from Amplify Funding, they are drafting biweekly payments of $318 from my account. At this point I have already repaid $2550. This payment has caused some financial troubles for me. I've contacted them directly asking for a discount or if they would agree lower my interest rate and payments. They are not willing to work with me at all. I was trying to repay their money , just at a lower/discounted rate.
Please see attached that includes:
The customer asked for a discount due to financial troubles. As a courtesy, even though notrequired to do so, the Company has closed the customer’s account. It will consider the account paid infull and it will waive the outstanding balance. As such, the Company believes this complaint has beenresolved.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
I was not told that the interest would be this outrageous and now that I'm three payments in, $1044 paid on a $1375 loan, I call to set up a loan payoff and I'm told that the payoff is $1563! My balance has not gone down at all! I've paid over $1000 and I still owe almost $1600 on a $1375 loan that I've had for a month and a half. How is this legal? This loan was for $1,375 I have paid most of it off and principle shows no change. I was told if the loan is paid off early, the amount paid would be towards the principal. This is a scam!
Business response attached.
As a courtesy, even though not obligated to do so, the Company would like to offer the customera discount. If the customer pays the sum of $348.24, the Company will consider the account paid in fulland waive any outstanding interest. The customer can either (1) call the Company at 1-844-388-0500 toset up a payment or (2) mail a cashier’s check or money order for the sum of $348.24 to the Company’saddress below:Niswi LLCPO Box 542Lac du Flambeau, WI 54538
Their interest rate was extremely high. It was 266% and when I tried to pay off the high interest loan the interest didn't stop. I was also given wrong information. That high of an interest rate should be against the law.
please see attached:
After receiving the complaint, the Company spoke with the customer. The customer set up apayment for June 21, 2019, and if that payment is successful, the account will be closed. As such, theCompany believes this complaint has been resolved.
I have done 2 loans with Amplify Lending and successfully paid off the loans and did a third loan and to find out that they are not legal to Lend In Pennsylvania and these type of loans are prohibited in my state, and now I understand why they now have dont lend in PA unless your a returning customer because they are not legal to lend in my state. I was looking to do business with a honest company and this is a lender that is breaking lending laws where they are not permitted to lend. I demand that my account is closed and settled as this is prohIbited in PA and they lent to me three times and I did not realize this till the third
Please see attached that includes:
As a courtesy, even though not obligated to do so, the Company would like to offer the customera discount. The current outstanding principal balance of the loan is $294.47.
If the customer pays theDocuSign Envelope ID: C3514E71-2289-4943-B632-FB7167A61FF9Niswi, LLC dba Amplify FundingPo Box 542Lac du Flambeau, WI 54538LDF HoldingsPo Box 231Lac du Flambeau, WI 54538sum of $294.47, the Company will consider the account paid in full and waive any outstanding interest.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I do not accept these terms. They are prohibited to lend in the state of PA and I done two loans prior to this without knowing things and paid very high interest then to find out they are not allowed to lend in my state. I want this account settled in full
Regards
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
I took out a 1200 loan with monthly payments of 413.09 --3 days after my second payment I paid it off. My payoff was 1289.--even after making 2 payments so that was 826.18 interest for a total of 2115.18 for a 1200 loan that I had for 2 months 6 days. None of my payments went to the principal payment. and I was not informed of this at the time of the loan
Please see attached that includes:
The interest and fees applicable to the loan are permitted by Tribal law. They were accurately and clearly reflected in the loan agreement that the customer signed before receiving the loan. The customer also received the TILA Disclosure, listing the payment amounts and payment dates. The Company processed all payments in accordance with the loan agreement. As such, the Company will not be issuing a refund. The customer’s account is now closed.
I have recently got a loan from amlify funding and was not satisfied with saying that I have to pay 275.22 every month for 12 mths. ive tried to talk with customer service about this and I haven't received a word, they connected me with a higher upper to talk about my situation and I was on hold for over 15 min. and I hung up. I borrowed 800 and I was furious about this. I live on social security and there is no way I can pay that much money every month. i'm just not happy with them, is there any solution for me? i'd be paying 3,300 by the time its all said and done. i'm 71 and all i'm asking if this can be reduced. i'm willing to still pay something. they have already taken one payment from my checking account.
Please see attached:
The customer asked for a discount. As a courtesy, even though not obligated to do so, theCompany would like to offer the customer a discount. The current outstanding principal balance of theloan is $524.61. If the customer pays the sum of $524.61, the Company will consider the account paid infull and waive any outstanding interest.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I cannot except your proposal for me to pay off in full 524.61. I have a hard time to pay 275.39 a mth. for 12 months. the only thing I am willing to do is pay what you are asking for 524.61 with no interest in 12 installment payments of 43.75 until my principle is paid off. Please except this offer this is the best I can do .
Regards
please see attached
In response to the customer’s original complaint, the Company offered her a discount of $524.61 to close the subject account. The customer responded, stating she would like to accept that offer by paying $43.75 a month for 12 months. The Company will accept this payment plan as long as the customer makes the first payment by July 8, 2019. The customer should call the Company at 1-844-388-0500 to discuss how she would like to make the payments (i.e. ACH withdrawals from her bank account, cashier’s checks mailed to the Company). We appreciate your assistance in resolving this matter. Kindest Regards
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
I cannot get this loan paid off to save my life! I have been calling for two days and I am getting the run around trying to pay off this ridiculous high interest rate loan that I agreed to. First of all I called wanting to pay off the account and they keep delaying so that I am paying more and more interest. They keep saying they haven't received my emails, the person in charge cannot talk, so on and so forth. I called on 6/3 in the morning. Was told all I needed to do was email a copy of voided check for the account I want payoff amount taken out of. I emailed it right away. Called back three times was told they never received emails and the person whom checks them was not available. Was told to call back first thing 6/4/19 which I did. Not they will not pay my loan off for two more days which I am paying $12 a day in interest. I said pay it off ASAP. Nope they have a ton on excuses and reasons why they cannot do it. 6/5/19 asked to schedule a payoff for that which is tomorrow. No they won't because I already have my normal payment scheduled that day. So another day goes by and I am paying more and more interest.
Please see attached business complete response:
Although not required to do so, as a courtesy, the Company has closed the subject account. The Company will consider the account as paid in full and it will waive the outstanding balance. As such, the Company believes this complaint has been resolved.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
this is a payday loan company that was supposed to deliver funds to my bank account. The funds were never receiced and now t'm sure they will want their money June 6, 2016. this sounds fraudulent
Please see attached response from the business.
I contacted this business to take out a loan and when the money wasn’t deposited in 2 days I called to cancel the loan since I never received the money but the rep wouldn’t cancel the loan. I’ve been trying to call them to cancel it no one answers. I have not received the money and don’t want the money. This company is a scam with high interest rate. The company said the money would be deposited into my account with 1 business day and it wasn’t neither was it on the second. I no longer need the money and they won’t cancel the loan
This responds to the above-referenced complaint. This inquiry related to Niswi LLC dba AmplifyFunding (the “Company”), which is owned by the Lac du Flambeau Band of Lake Superior ChippewaIndians (“Tribe”).The Company takes these types of inquiries very seriously and would like to provideyou with the below information.
The complainant asked to cancel a loan because she did not receive the loan proceeds within twodays. Following receipt of the complaint, the Company spoke with the complainant. The Company hadattempted to deposit the loan proceeds, but the customer had provided an incorrect bank accountnumber to the Company. As such, the attempted deposit was rejected by her bank. The Company advisedthe complainant that the loan was cancelled. As such, the Company believes this complaint is resolved.The Company trusts that the complainant will find this letter of explanation satisfactory. However,if the complainant is not satisfied with the Company’s resolution of this matter, pursuant to Section 10 ofthe Tribal Consumer Financial Services Regulatory Ordinance, which can be found athttps://www.ldftribe.com/uploads/files/Court-Ordinances/CHAP94-Tribal-Consumer-Financial-Services-Reulatory-Ordinance.pdf, she may pursue formal dispute resolution with the Tribal Consumer FinancialServices Regulatory Authority (“Authority”). To do so, she must send a written request to the Authorityat P.O. Box 25, Lac du Flambeau, Wisconsin 54538. The request must contain the information requiredby Section 10 of the Tribal Consumer Financial Services Regulatory Ordinance.
. I was told at 7:00am on 5/17 that my funds were transfered. I was told this would be deposited in my checking account with in a few hours. As the day went by I received NO Funds from amplify to my account. I called 5/17 several times through out the day second call I was told funds WOULD be deposited no later then close of business yesterday I asked what exactly is that . I was told by 5:00 pm my time. I called again at 4:56 asked again asked why my funds say funded 5/17 online on my account with amplify ? I was then asked by customer service women if funds were deposited I said No as that is why I am calling for the 3rd time today. She said well it will be deposited by 12 midnight. I have now been told three different times my funds will be deposited. This is very unprofessional. I was expecting to receive my funds at least by yesterday. I called my bank they have no record of any funds from your company being sent to my bank. My account deposits automatically any wire deposits. You deposit or wire transfer was not found to be sent at all. It is now 9:06 am on 5/18 NO funds have been sent to my bank yet my account with amplify online shows funded 5/17? I have been on hold trying to get ahold of customer service for 2 hours on hold. This is ridiculous customer service. I want a call immediately to discuss what is going on
This responds to the above-referenced complaint. This inquiry related to a loan from Niswi LLCdba Amplify Funding (the “Company”), which is owned by the Lac du Flambeau Band of Lake SuperiorChippewa Indians (“Tribe”).1The Company takes these types of inquiries very seriously and would like toprovide you with the below information.The customer asked for the Company to call her because she had not received her loan proceeds,yet. Following receipt of the complaint, the Company spoke with the customer. The customer confirmedthat she had received the loan proceeds and the parties discussed a resolution for any inconveniencecaused by a delay. As such, the Company believes this matter is resolved.The Company trusts that the complainant will find this letter of explanation satisfactory. However,if the complainant is not satisfied with the Company’s resolution of this matter, pursuant to Section 10 ofthe Tribal Consumer Financial Services Regulatory Ordinance, which can be found athttps://www.ldftribe.com/uploads/files/Court-Ordinances/CHAP94-Tribal-Consumer-Financial-Services-Reulatory-Ordinance.pdf, she may pursue formal dispute resolution with the Tribal Consumer FinancialServices Regulatory Authority (“Authority”). To do so, she must send a written request to the Authorityat P.O. Box 25, Lac du Flambeau, Wisconsin 54538. The request must contain the information requiredby Section 10 of the Tribal Consumer Financial Services Regulatory Ordinance.
I took a loan out for $1400 to pay off medical bills and have paid back $803.62 ($401.81 every other week). I called in on 5/17/19 to see about paying off my account and was told I would owe $1500 for my account to be paid off. I've already paid $800 into the loan so I feel something should go towards the loan and I wouldn't have to pay over the amount taken out. I can't afford to have this amount taken out every other week and still be able to pay my bills as a single mother of two kids. I researched online and learned that these types of loans are not allowed in that state of Pennsylvania. I would like to pay off my loan but at a lessor and more reasonable value and will never take out another loan like this again. Will also be contacting my state rep. to see what we need to do to stop the tribes from being able to off these loans.
This responds to the above-referenced complaint. This inquiry related to a loan from Niswi LLCdba Amplify Funding (the “Company”), which is owned by the Lac du Flambeau Band of Lake SuperiorChippewa Indians (“Tribe”). The Company takes these types of inquiries very seriously and would like toprovide you with the below information. Nothing in this communication should be construed as a waiverof the Tribe’s or the Company’s sovereign immunity, all of which are expressly preserved.
The Company is a wholly-owned and operated subsidiary of LDF Holdings, LLC (“LDF Holdings”).LDF Holdings is a wholly-owned and operated subsidiary of the L.D.F. Business Development Corporation,which is a wholly-owned and operated economic arm and instrumentality of the Tribe. The Tribe is afederally recognized Indian tribe, organized under a Constitution pursuant to the Indian ReorganizationAct of 1934, 48 Stat. 984, 25 U.S.C. §§ 476, et seq., as amended, and is identified on the United StatesDepartment of Interior’s list of federally acknowledged Indian Tribes. 83 FR 34863-01 (July 23, 2018). TheCompany is an arm of the Tribe. As an arm of the Tribe, the Company possesses all of the privileges andimmunities of the Tribe. The Tribe and the Company are entitled to tribal sovereign immunity and theyare not subject to state law. Wells Fargo Bank, N.A. v. Lake of the Torches Econ. Dev. Corp., 677 F. Supp.2d 1056, 1061 (W.D. Wis. 2010) (holding that entities acting as arms of a tribe are entitled to tribalsovereign immunity).
The complaint took issue with the cost of the loan. The Company issues loans in accordance withthe Tribe’s Tribal Consumer Financial Services Regulatory Code and it is licensed under Tribal law. Thecustomer’s loan agreement provided that it would be governed by the laws of the Tribe, without regardto the laws of any state. The interest and fees applicable to the loan are permitted by Tribal law. Theywere accurately and clearly reflected in the loan agreement that the customer signed before receiving theloan. The customer also received a TILA disclosure that outlined the amount and date of each paymentrequired under the loan agreement. Due to its immunity, the loan is not subject to Pennsylvania law. Thecustomer’s loan is legal.
The customer asked for a discount. As a courtesy, even though not obligated to do so, theCompany would like to offer the customer a discount. The current outstanding principal balance of theloan is $1,348.59. If the customer pays the sum of $1,348.59, the Company will consider the account paidin full and waive any outstanding interest. The customer can either (1) call the Company at 1-844-388-0500 to discuss a payment plan or (2) mail a cashier’s check or money order for the sum of $1,348.59 tothe Company’s address below:
Niswi LLCPO Box 542Lac du Flambeau, WI 54538
We would be happy to discuss these issues further, but, again, please be advised that nothing inthis communication should be construed as a waiver of the Tribe’s or the Company’s sovereign immunity,all of which are expressly preserved. Please direct any future communications through our legal counsel:Shilee M at Spencer Fane LLP, 13520 California Street, Suite 290, Omaha, NE 68154, 402-965-8600,***.
The Company trusts that the complainant will find this letter of explanation satisfactory. However,if the complainant is not satisfied with the Company’s resolution of this matter, pursuant to Section 10 ofthe Tribal Consumer Financial Services Regulatory Ordinance, which can be found at https://www.ldftribe.com/uploads/files/Court-Ordinances/CHAP94-Tribal-Consumer-Financial-Services-Reulatory-Ordinance.pdf, she may pursue formal dispute resolution with the Tribal Consumer Financial
Services Regulatory Authority (“Authority”). To do so, she must send a written request to the Authorityat P.O. Box 25, Lac du Flambeau, Wisconsin 54538. The request must contain the information requiredby Section 10 of the Tribal Consumer Financial Services Regulatory Ordinance.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I agree to pay back against the loan a remaining balance of $600.00 which will close out the remaining loan.
Regards,
Kimberly N
Please see attached.
The customer offered to pay $600 if the Company would agree to close her loan. Although not obligated to do so, the Company will accept the customer’s offer. If the customer pays the sum of $600, the Company will consider the account paid in full and waive any outstanding interest. The customer can either (1) call the Company at *** to set up a payment or (2) mail a cashier’s check or money order for the sum of $600 to the Company’s address below: Niswi LLC PO Box 542 Lac du Flambeau, WI 54538
First let me say that the customer service of this companies employees have always been very accommodating. That being said, I have a loan with this company that I took out a loan in the amount of $1000. Right after I applied I was immediately contacted by a customer service rep that explained the interest rate of “seven, seven, one” spoken out in this exact way. I did not realize that this was not 7.71. I agreed to the loan and have been making payments regularly because this was my own mistake. However, I have to date paid 1713.42 and when asked what my current payoff would be was told if I paid off today I would have to pay $1023 more. This would mean that none of my payments have gone to principal. I am asking that this loan be considered paid in full as when the rate was given to me it was given in a decitful manner that I believe was intended to trick me. I have made these payments in good faith and have paid back far more than I have borrowed and believe this is only fair to ask for the account to be considered paid in full.
This responds to the above-referenced complaint. This inquiry related to a loan from Niswi LLCdba Amplify Funding (the “Company”), which is owned by the Lac du Flambeau Band of Lake SuperiorChippewa Indians (“Tribe”). The Company takes these types of inquiries very seriously. Nothing in thiscommunication should be construed as a waiver of the Tribe’s or the Company’s sovereign immunity, allof which are expressly preserved.
The Company is a wholly-owned and operated subsidiary of LDF Holdings, LLC (“LDF Holdings”).LDF Holdings is a wholly-owned and operated subsidiary of the L.D.F. Business Development Corporation,which is a wholly-owned and operated economic arm and instrumentality of the Tribe. The Tribe is afederally recognized Indian tribe, organized under a Constitution pursuant to the Indian ReorganizationAct of 1934, 48 Stat. 984, 25 U.S.C. §§ 476, et seq., as amended, and is identified on the United StatesDepartment of Interior’s list of federally acknowledged Indian Tribes. 83 FR 34863-01 (July 23, 2018). TheCompany is an arm of the Tribe. As an arm of the Tribe, the Company possesses all of the privileges andimmunities of the Tribe. The Tribe and the Company are entitled to tribal sovereign immunity and theyare not subject to state law. Wells Fargo Bank, N.A. v. Lake of the Torches Econ. Dev. Corp., 677 F. Supp.2d 1056, 1061 (W.D. Wis. 2010) (holding that entities acting as arms of a tribe are entitled to tribalsovereign immunity).
The complaint took issue with the cost of the loan. The Company issues loans in accordance withthe Tribe’s Tribal Consumer Financial Services Regulatory Code and it is licensed under Tribal law. Thecustomer’s loan agreement provided that it would be governed by the laws of the Tribe, without regardto the laws of any state. The interest and fees applicable to the loan are permitted by Tribal law. Theywere accurately and clearly reflected in the loan agreement that the customer signed before receiving theloan. The customer also received a TILA disclosure that outlined the amount and date of each paymentrequired under the loan agreement.Although not required to do so, as a courtesy, the Company has closed the subject account. TheCompany will consider the account as paid in full. As such, the Company believes this complaint hasbeen resolved.
The Company trusts that the complainant will find this response satisfactory. However, if she isnot satisfied with the Company’s resolution of this matter, pursuant to Section 10 of the Tribal Consumer
Financial Services Regulatory Ordinance, which can be found athttps://www.ldftribe.com/uploads/files/Court-Ordinances/CHAP94-Tribal-Consumer-Financial-Services-Reulatory-Ordinance.pdf, she may pursue formal dispute resolution with the Tribal Consumer FinancialServices Regulatory Authority (“Authority”). To do so, he must send a written request to the Authority atP.O. Box 25, Lac du Flambeau, Wisconsin 54538. The request must contain the information required bySection 10 of the Tribal Consumer Financial Services Regulatory Ordinance.
Nothing in this communication should be construed as a waiver of the Tribe’s or the Company’ssovereign immunity, all of which are expressly preserved.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 13562296, and find that this resolution is satisfactory to me.
Regards