Information and Alerts

Government Actions

State of Minnesota v. Evan Azure, in his official capacity as CEO of Island Mountain Development Group, and William Bell, in his official capacity as Chairman of Island Mountain Development Group

The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

On February 21, 2024 in the United States District Court, District of Minnesota, the State of Minnesota by its Attorney General entered into a Settlement Agreement with Evan Azure, in his official capacity as CEO of Island Mountain Development Group, and William Bell, in his official capacity as Chairman of Island Mountain Development Group.

The Tribal Officials deny that they conduct business in the state of Minnesota and deny that Minnesota state law applies to the lending activities conducted by Aaniiih Nakoda Finance LLC dba Bright Lending, Green Trust Cash LLC dba Green Trust Lending, and Target Finance LLC dba Target Cash Now (collectively “Tribal Lending Entities”) but for purposes of this Agreement voluntarily agree to comply with Minnesota law as expressly set forth herein.

The Tribal Officials, in all cases herein acting in their official capacity on behalf of Island Mountain Development Group, a wholly owned and operated arm of the Fort Belknap Indian Community, agree to cease engaging in the business of marketing, advertising, and making loans from the Tribal Lending Entities—or any other entity owned or operated by the Island Mountain Group or the Fort Belknap Indian Community—to consumers that identify themselves as a Minnesota resident during the loan application process and complete the loan transaction while physically located in Minnesota. 

The Tribal Lending Entities (or any other lending business operated by the Tribal Officials) shall state on their websites and all other marketing or advertising related to their lending business that their loans are not available to consumers located in Minnesota. To ensure compliance with this paragraph, the Tribal Officials shall continue to require borrowers to identify their address and state of residency when they complete a loan application.

As per the Agreement, the Tribal Lending Entities any loan issued before the settlement be canceled except to allow repayment of the original principal balance, which usually was between $350 and $1,500. Interest charges will be written down and all past payments will be attributed towards paying down principal.

The lawsuit, which enforces Minnesota’s statutory interest-rate caps (called “usury” laws), comes on the heels of a state law passed earlier last year and supported by Attorney General Ellison that closed loopholes allowing excessive fees on payday and other short-term lending and capped interest rates for payday loans at 36 percent.

As per the Agreement, Tribal Lending Entities (or any other lending business operated by the Tribal Officials) may engage in the business of making loans to consumers located in Minnesota if they agree to comply with Minnesota consumer-lending laws concerning such loans, including Minn. Stat. Ch. 334, Minn. Stat. Ch. 56, and Minn. Stat. §§ 47.60 and 47.601. 

This Agreement shall not be considered an admission of a violation or wrongdoing by the Tribal Officials for any purpose. The terms of this Agreement are made entirely for the purpose of a compromise and settlement of a bona fide dispute. Nothing in this Agreement shall be construed to create any rights or interests in third persons or entities. The fact of this settlement may not be used by any Party to prove or establish liability in any other action or proceeding of any kind whatsoever.

In October 2023, Attorney General Ellison sued three online lenders through their managers — Bright Lending, Green Trust Cash, and Target Cash Now, operating jointly under control of a single entity called the Island Mountain Development Group — for issuing thousands of loans to consumers in Minnesota that charged between 400 and 800 percent annual interest, in violation of Minnesota and federal consumer-lending laws. Through these illegal loans, the lenders had collected at least $540,000 from Minnesota borrowers who had defaulted on the loans and potentially much more from borrowers who were not in default. The settlement also requires the lenders to comply with Minnesota interest-rate caps and stop collection of illegal interest on loans. The Attorney General’s Office believes that outstanding balances affected by the settlement exceed $1 million.

Minnesota consumers who have taken out loans from Bright Lending, Target Cash Now, and Green Trust Cash in Minnesota can contact the Attorney General’s Office for further information about the lawsuit. Minnesota consumers subject to loans from other brick-and-mortar or online lenders that charge excessive interest rates or that engaged in fraudulent or other unlawful conduct can also file a complaint by calling (651) 296-3353 (Metro area) or (800) 657-3787 (Greater Minnesota).  For more information, please contact the Minnesota Attorney General’s Office here https://www.ag.state.mn.us/. 

Pattern of Complaints

On June 16, 2020, Better Business Bureau recognized a pattern of complaints from consumers regarding lending practices of Bright Lending.  Consumers allege they borrow money but after making several payments, they discover they owe much more money than they borrowed.

On June 16, 2020, and June 29, 2020, Better Business Bureau reached out to the business for a response to the consumer complaints. On September 14, 2020, Bright Lending responded to Better Business Bureau; below is a copy of their response. 

Bright Lending is in receipt of BBB’s review letter dated June 16, 2020, which was received by us on June 22, 2020.  We take all comments, complaints, and reviews (good or bad) very seriously and will address the items noted.   First, we would like to take this opportunity to provide you with some background information on our company, its business practices, and our actions in response to your letter.  Bright Lending is committed to complying with the spirit of all applicable federal laws and the laws of the Fort Belknap Indian Community. 

Regarding our products and their terms and conditions (including repayment options), they are all explained at the time of loan origination.  Bright Lending discloses the total cost to a borrower if only the minimum payment schedule is followed, and we inform our customers that this is an expensive form of borrowing.  We also encourage customers to pay off early with no prepayment penalty to save on interest charges. 

As to the APR, it is disclosed both on the Bright Lending website, as well as the loan documents that are reviewed and signed by the customer.  All rates and loan fees are prominently displayed within the loan contract and are acknowledged at each point by mandatory electronic signature.  Furthermore, we advise our customers that our products should be used as a short-term source of funds – not a long-term financial solution.

As to the alleged pattern asserted by BBB and the number of consumer complaints claimed by BBB, our records indicated that we have 34% less complaints over the past twelve (12) months than what is alleged by BBB.  Even more importantly, out of all those complaints during the last twelve months, only one (1) response was not accepted by a complainant.  Most importantly, to put the volume of complaints in perspective, the complaints received over the last twelve (12) months make up less than 0.09% of Bright Lending’s originated loans during that time.   

As we are sure you are aware, Bright Lending has repeatedly attempted to work with the BBB on improving Bright Lending’s BBB rating.  Unfortunately, Bright Lending has been repeatedly told by BBB that Bright Lending’s rating is due to the number of complaints received without any regard for the fact that such volume of complaints constitutes a nearly imperceptible percentage of Bright Lending’s customer base.

Regardless of the above, Bright Lending appreciates the BBB reaching out, as we always strive to offer a superb product and the best customer experience possible.  Bright Lending specifically understands the importance BBB’s recommendations in above-referenced letter, and we would like to let you know that our website already has these recommendations implemented.  You can find this information by going to the Bright Lending website and clicking on the Our Loans tab.  From there, you will be able to click on either New Customer Rates or Returning Customer Rates.  Furthermore, as previously mentioned, all rates and loan fees are prominently displayed within the loan contract and are acknowledged at each point by a customer’s mandatory electronic signature.

Thank you for the opportunity respond.  As noted above, Bright Lending is subject to robust consumer protection requirements, and we want to treat our customers well and ensure they are pleased with our product.