Behind 700% Loans, Profits Flow Through Red Rock to Wall Street

By Zeke Faux - Nov 24, 2014

Joshua Wrenn needed money to make the January payment for his Jeep Cherokee.

The truck driver and aspiring country singer in Madison, North Carolina, got $800 within minutes from a website he found on his phone. When he called to check his balance a few weeks later, he was told he had electronically signed a contract to pay back $3,920 to a company owned by an American Indian tribe.