The Consumer Financial Protection Bureau alleges that the online lender made loans that exceeded a federal cap on interest rates for active-duty service members. If you have trouble logging in to the Portal,
Files Suit Alleging Consumer Deception in Repaying Loans Not Legally Owned. HARRISBURG —Attorney General Josh Shapiro today announced a settlement with Think Finance, a national online payday lender, and an associated private equity firm for allegedly engineering a $133 million illegal online payday loan scheme that targeted as … The … The amount to be dispursed to harmed consumers “may increase over time as a result of ongoing, related litigation and settlements,” the CFPB said. Case No. v. Plain Green, LLC, et al. Great Plains Lending, and MobiLoans prior to May 6, 2017, will be cancelled. Business. However, as part of the proposed Settlement any amount you still owe for cash borrowed from Plain Green prior to June 1, 2016, Great Plains Lending, and MobiLoans prior to May 6, 2017, will be cancelled. Think Finance allegedly targeted consumers nationwide including 80,000 Pennsylvanians using three websites— Plain Green Loans, Great Plains Lending and Mobiloans. Login below using your Access Code and Last Name exactly as it appears in the Notice you received by mail or email. Washington, D.C. — The Consumer Financial Protection Bureau (Bureau) today announced a proposed settlement with Think Finance, LLC, formerly known as Think Finance, Inc., and six subsidiaries (collectively, the “Think Finance Entities”), to resolve the Bureau’s lawsuit, which the Bureau filed on November 15, 2017. In its announcement Wednesday, the CFPB also said it expects the company will set aside more than $39 million to be given to harmed consumers as part of a global settlement that includes settlements with the Pennsylvania Attorney General’s office and private class-action litigants. www.pathinkfinancesettlement.com • 1 (877) 641-8838. What PNC has in mind for BBVA's technology; banks and borrowers bristle at SBA questionnaire on large PPP loans; a look at who might be buying if HSBC decides to sell its branches; and more from this week's most-read stories. 15. | Crowdfund Insider: … Commonwealth of Pennsylvania, by Attorney General Josh Shapiro, v. Think Finance et al. please contact us. Plain Green claims to be a “tribal lending entity wholly owned by the Chippewa Cree Tribe of the Rocky Boy’s Indian Reservation, Montana, a sovereign nation located within the United States.” 4 A national payday lender, Think Finance was accused of offering payday loans in states where the product is illegal. Click the "Next" button to see if you are eligible for a Cash Award. The company did not respond to a request for comment on the proposed settlement with the CFPB. As described in the Class Notice, the amount of your check will depend on your stateâs laws and the amount you paid in excess of principal and/or
In March of 2011, after Rosette had entered into negotiations with Think Finance of Fort Worth, Texas, the Tribe created another online lending company, Plain Green. 17-33964 Gibbs, et al. Fort Worth firm to pay back $39.7 million on payday loans that charged 375% interest Think Finance locked borrowers into plans in which paying off the loan was nearly impossible. Gibbs, et al. Objection Deadline â October 18, 2019
Plain Green was created for online installment loan lending and, as with FACR, Plain Green would utilize the Tribe’s sovereignty to shield the business from state usury and predatory lending laws. Only nine out of the 1,045,000 individuals who borrowed from Plain Green and Great Plains and the 66,000 who borrowed from Mobiloans opted out of the settlement.