A 700% APR Lending Business Tied to Dr. Phil’s Son Is Dividing an Alaska Tribe

Dr. Phil’s son tied to tribal lender accused of predatory 700 percent interest loans

Lender has been subject of hundreds of complaints to federal regulators

A 700% APR lending business tied to Dr. Phil’s son is dividing an Alaska tribe

Tribal lender Minto Money has boosted the economy of an Alaska village. But some tribal members are appalled by the millions it’s made off desperate borrowers — much of which, lawsuits allege, has gone to outsider Jay McGraw, son of Dr. Phil.

A 700% APR Lending Business Tied to Dr. Phil’s Son Is Dividing an Alaska Tribe

Tribal lender Minto Money has boosted the economy of its Alaska town. But some tribal members are appalled by the millions it’s made off desperate borrowers — much of which, lawsuits allege, has gone to outsider Jay McGraw, son of Dr. Phil.