I suspect that some people in Minto, the 150-person village northwest of Fairbanks, don’t know what is being done in their names by Minto Money, which makes small loans at interest rates of more than 700 percent on the internet.
Minto Money says it does not do business in Alaska, is not subject to state laws that limit interest rates and does not have to be licensed in any state.
It is allegedly organized under the laws of the Native Village of Minto and headquartered at “205 Lakeview Drive, Suite 7, Minto, Alaska.”
As one of numerous lawsuits against Minto Money says, there is a tribal building at that address with no suites or numbers, so it is an unlikely site for e-commerce.
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