The objective of the Authority is to implement the Lac Courte Oreilles Band of Lake Superior Chippewa Tribal Consumer Financial Services Regulatory Code (“Code”), and any later promulgated regulations, to ensure fair and equitable treatment of consumers and to enforce compliance of the Code.
The Code details the Authority’s duties and services. The core functions focus on protecting consumers by:
The Authority implements this Code and regulations promulgated thereunder to ensure fair and equitable treatment of Consumers and to enforce compliance of the Code by Licensees.
Additionally, under the federal Consumer Financial Protection Act (“CFPA”), 12 USC § 5552, the Authority is empowered to work in concert with the CFPB and state agencies to enforce they CFPA, any of its enumerated consumer protection laws, and all CFPB regulations, with respect to Tribal licensees.