The tribal-issued license for Plain Green Loans. Image from Chippewa Cree Tribe
The Chippewa Cree Tribe of Montana is facing more allegations about its online loan business. Jessica Gingras and Angela Given sued Plain Green Loans in federal court in May, alleging that the business charged illegal interest rates on loans. In a new filing reported by the Associated Press, they now say the firm's partner, Think Finance, ran the entire enterprise and only used the tribe as a front. According to the suit, 99 percent of the loans issued by Plain Green were sold to a different company affiliated with Think Finance. The tribe reportedly only received 4.5 percent of the revenues, a claim previously made by a former executive of the business. Plain Green's executives are seeking to be removed from the suit, citing sovereign immunity. A spokesperson for the tribe said the lawsuit was without merit. “This is a transparently desperate attempt to inject new life into a baseless lawsuit full of allegations that are not only false but are also disparaging to all members of the Chippewa Cree Tribe," the tribe said in a statement to the AP. Get the Story:
Lawsuit goes after Fort Worth-based backers of lending operation owned by Native American tribe (AP 8/5)
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