Plain Green Loans is an online installment loan company providing emergency cash via the internet and is owned by the Chippewa Cree Tribe on the Rocky Boy Indian Reservation. Plain Green Loans (PGL) is the premier online resource for the short-term financial needs of underbanked and subprime consumers. By offering bi-weekly and monthly installment loans, Plain Green helps consumers meet their emergency, cash-flow needs quickly and online. Plain Green markets, underwrites, and services its own portfolio.
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History
In 2011, Plain Green Loans issued over 121,000 loans. Because the Chippewa Cree Tribe is a sovereign nation which enjoys tribal immunity, it is not subject to state laws which seek to prevent usury by regulating high-interest lending.
In February 2012, a coalition of Indian tribes welcomed a Colorado court ruling that tribal immunity has no territorial boundaries.
In 2014, several members of the tribe were convicted of illegally siphoning seven percent of the company's revenues which totaled $25 million over a three-year period.
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Operations
Plain Green has a B rating with the Better Business Bureau"
Source of the article : Wikipedia
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