Loan at Last complaints

VIA ONLINE COMPLAINT PORTAL Business Consumer Alliance To Whom It May Concern: This responds to the above-referenced complaint. This inquiry related to a loan from Niizhwaaswi, LLC dba Loan at Last (the "Company"), which is owned by the Lac du Flambeau Band of Lake Superior Chippewa Indians ("Tribe"). The Company takes these types of inquiries very seriously and would like to provide you with the below information. Nothing in this communication should be construed as a waiver of 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 a federally recognized Indian tribe, organized under a Constitution pursuant to the Indian Reorganization Act of 1934, 48 Stat. 984, 25 U.S.C. §§ 476, et seq., as amended, and is identified on the United States Department of Interior's list of federally acknowledged Indian Tribes. 83 FR 34863-01 (July 23, 2018). The Company is an arm of the Tribe. As an arm of the Tribe, the Company possesses all of the privileges and immunities of the Tribe. The Tribe and the Company are entitled to tribal sovereign immunity and they are 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 tribal sovereign immunity). The Company issues loans in accordance with the Tribe's Tribal Consumer Financial Services Regulatory Code and it is licensed under Tribal law. The customer's loan agreement provided that it would be governed by the laws of the Tribe, without regard to the laws of any state. 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 a TILA disclosure that outlined the amount and date of each payment required under the loan agreement. Due to its immunity, the loan is not subject to state law and the Company is not required to be licensed with any state. The customer's loan is legal. Our Customer Care Representatives reached out to the customer to advise them they were still within the rescind option and that could return the funds to close the account. Customer consented but said they would call back. We have left voicemail messages and made multiple attempts to contact them again and now the rescind option has expired. We must assume the customer wishes to retain the funds under the terms they signed and agreed to. The loan will proceed as written. The customer can call the Company at 1-844-676-8550 if there are further questions or concerns. If you would like to discuss these issues further on a government-to-government basis, please direct any communications through the Company's legal counsel: Shilee Mullin at Spencer Fane LLP, 13520 California Street, Suite 290, Omaha, NE 68154, 402-965-8600, smullin@spencerfane.com. But, again, please be advised that nothing in this communication should be construed as a waiver of the Tribe's or the Company's sovereign immunity, all of which are expressly preserved. 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 of the 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, he/she may pursue formal dispute resolution with the Tribal Consumer Financial Services Regulatory Authority ("Authority"). To do so, he/she must send a written request to the Authority at P.O. Box 25, Lac du Flambeau, Wisconsin 54538. The request must contain the information required by Section 10 of the Tribal Consumer Financial Services Regulatory Ordinance. Kindest Regards, Racquel Bell Compliance Manager Niizhwaaswi, LLC dba Loan at Last

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