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 17, 2020, Better Business Bureau recognized a pattern of complaints from consumers regarding the lending services provided by Target Cash Now. Consumers allege borrowing money from the business and having to pay back much more than they borrowed due to the interest rates attached to the loan.

On June 17, 2020, BBB reached out to Target Cash Now with the following suggestions, and requesting a response to the consumer complaints:

1. The APR should be clearly visible above or next to "Click here to apply" on your website
2. Your website should clearly show a consumer the full amount they will be required to pay if they borrow “X” amount of money, example:

“$500 Loan Paid Bi-weekly

10 Month Term

21 Bi-weekly Payments of $140.22

725% APR

Total Payment $2,804.40”

On July 06, 2020, Target Cash Now responded to Better Business Bureau with the following:

“Target Cash Now is in receipt of BBB’s review letter dated June 17, 2020, which was received by us on June 23, 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.  Target Cash Now 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.  Target Cash Now 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 pre-payment penalty to save on interest charges. 

As to the APR, it is disclosed both on the Target Cash Now 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.

Out of all the complaints received 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 0.07% of Target Cash Now’s originated loans during that time.   

Regardless of the above, Target Cash Now appreciates the BBB reaching out, as we always strive to offer a superb product and the best customer experience possible.  Target Cash Now 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 in a similar format.  You can find this information by going to the Target Cash Now website and clicking on the Rates tab.  From there, you will be able to use the Target Cash Now Payment Calculator to get an approximate payback amount.  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, Target Cash Now is subject to robust consumer protection requirements, and we want to treat our customers well and ensure they are pleased with our product.

Better Business Bureau reminds consumers to read and understand Terms and Conditions when conducting financial transactions with a lending business.

Complaints can be filed with Better Business Bureau at www.BBB.org, as well as with the Federal Trade Commission-Consumer Protection at https://www.ftc.gov/faq/consumer-protection.”

Alert

On June 17, 2020, Better Business Bureau recognized a pattern of complaints from consumers regarding the lending services provided by Target Cash Now. Consumers allege borrowing money from the business and having to pay back much more than they borrowed due to the interest rates attached to the loan.

On June 17, 2020, BBB reached out to Target Cash Now with the following suggestions, and requesting a response to the consumer complaints:

The APR should be clearly visible above or next to "Click here to apply" on your website
Your website should clearly show a consumer the full amount they will be required to pay if they borrow “X” amount of money, example:

“$500 Loan Paid Bi-weekly
10 Month Term
21 Bi-weekly Payments of $140.22
725% APR
Total Payment $2,804.40”
On July 06, 2020, Target Cash Now responded to Better Business Bureau with the following:

“Target Cash Now is in receipt of BBB’s review letter dated June 17, 2020, which was received by us on June 23, 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.  Target Cash Now 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.  Target Cash Now 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 pre-payment penalty to save on interest charges. 

As to the APR, it is disclosed both on the Target Cash Now 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.

Out of all the complaints received 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 0.07% of Target Cash Now’s originated loans during that time.   

Regardless of the above, Target Cash Now appreciates the BBB reaching out, as we always strive to offer a superb product and the best customer experience possible.  Target Cash Now 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 in a similar format.  You can find this information by going to the Target Cash Now website and clicking on the Rates tab.  From there, you will be able to use the Target Cash Now Payment Calculator to get an approximate payback amount.  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, Target Cash Now is subject to robust consumer protection requirements, and we want to treat our customers well and ensure they are pleased with our product.

Better Business Bureau reminds consumers to read and understand Terms and Conditions when conducting financial transactions with a lending business.

Complaints can be filed with Better Business Bureau at www.BBB.org, as well as with the Federal Trade Commission-Consumer Protection at https://www.ftc.gov/faq/consumer-protection.”