Plain Green Loans
| Company type | Tribal Lending Enterprise |
|---|---|
| Industry | Financial services |
| Founded | 2011 |
| Headquarters | United States |
Area served | Online |
| Products | Installment loans |
| Owner | Chippewa Cree Tribe |
Plain Green Loans is a web-based installment loan provider specializing in offering urgent cash solutions online. It functions as a Tribal Lending Enterprise under the ownership of the Chippewa Cree Tribe, located on the Rocky Boy Indian Reservation.
History
In 2011, Plain Green Loans disbursed more than 121,000 loans. As a sovereign tribal entity, the Chippewa Cree Tribe enjoys tribal immunity, which exempts it from state regulations governing high-interest lending practices.
A Colorado court ruling in February 2012 confirmed that tribal immunity applies beyond the tribe's physical territory, a decision that received backing from numerous Indian tribes.
In 2014, several members of the tribe were found guilty of unlawfully redirecting seven percent of the company’s $25 million revenue accumulated over a three-year span.
In January 2018, Plain Green Loans reached a settlement with BEH Gaming Ltd concerning loans made to the Chippewa Cree Tribe and its Development Corporation. This agreement settled a lawsuit originating in 2014 over financing related to the Northern Winz Hotel and Casino expansion and discharged the tribe from any additional obligations.
Operations
Plain Green maintains a B rating with the Better Business Bureau, indicating its performance in customer relations and operational standards.
References
- Articles with short description
- Financial services companies of the United States
- Loans
- Retail financial services
- Financial regulation in the United States
- Companies based in Montana
- Ojibwe in Montana
- Cree
- Chippewa Cree Indians of the Rocky Boy's Reservation, Montana
- Companies owned by American Indian tribes