Understanding the Plain Green Loans Lawsuit

Plain Green Loans, a tribal lender, has been at the center of a lawsuit that has left many consumers wondering about their rights and options.

The lawsuit alleges that Plain Green Loans charged excessive interest rates and fees, often exceeding 500% APR, resulting in debt traps for vulnerable borrowers.

The company has been accused of using aggressive debt collection tactics, including threatening lawsuits and wage garnishment, to collect debts from borrowers who were unable to pay.

The lawsuit seeks to hold Plain Green Loans accountable for its business practices and provide relief to affected consumers.

The Plain Green Loans lawsuit was filed in 2018, alleging that the company engaged in deceptive and unfair lending practices.

The lawsuit claimed that Plain Green Loans, a tribal lender, charged exorbitant interest rates and fees, often exceeding 700% APR.

Plain Green Loans marketed itself as a legitimate lender, but the lawsuit argued that it was actually a predatory lender preying on vulnerable consumers.

The company's business model relied on charging high interest rates and fees, which led to a cycle of debt for many borrowers.

Many borrowers reported struggling to pay back their loans, which led to a significant amount of debt collection activity.

The lawsuit also alleged that Plain Green Loans failed to provide clear and transparent disclosure of its loan terms and fees.

The company's website and marketing materials were designed to make it difficult for consumers to understand the true cost of the loans.

The Plain Green Loans lawsuit involves a class-action lawsuit filed against the Otoe-Missouria Tribe of Indians, the company behind Plain Green Loans, a tribal payday lending operation. The lawsuit was filed in the Western District of Arkansas.

The lawsuit alleges that Plain Green Loans charged interest rates as high as 448% APR, which is significantly higher than the 36% APR cap allowed by the federal Consumer Financial Protection Bureau for active-duty military personnel. This is a major red flag.

The plaintiff in the lawsuit claims that Plain Green Loans targeted military personnel and their families with these high-interest loans, despite being aware of the 36% APR cap. This is a clear violation of the Military Lending Act.

The lawsuit seeks to represent all borrowers who took out loans from Plain Green Loans between 2011 and 2014, which is a significant number of people. The total amount of damages is estimated to be in the millions of dollars.

The lawsuit against Plain Green Loans and its parent company, Think Finance, revealed some disturbing allegations. The company exploited thousands of Pennsylvanians during times of crisis.

The three online lending websites, Plain Green Loans, MobiLoans, and Great Plains Loans, failed to comply with numerous state and federal laws. They offered loans with interest rates as high as 448 percent.

In some cases, the lenders operated without a license to do business. Pennsylvania is a state where payday loans of any kind are illegal.

The lawsuit in Pennsylvania estimated that up to 800,000 customers were targeted by the allegedly illegal online payday lending scheme.

To be eligible for the settlement payment, you need to have taken out a loan from Great Plains Lending.

If you received a loan from Plain Green Loans before June 1, 2016, you are affected by the settlement.

MobiLoans users are also impacted, but only if they took out a cash advance before May 6, 2017, or a line of credit.

The defendants are contributing $44.53 million to the fund that will reimburse Class Members.

To receive a cash payment, you must have paid interest above the allowable amounts.

Customers from certain states, like Utah and Nevada, are ineligible for cash payments due to interest restrictions on lending.