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Louisiana Payday Loan

Tribally owned lender sued. The suit, filed Wednesday

Tribally owned lender sued. The suit, filed Wednesday

Plain Green LLC, a payday financing company wholly owned by Montana’s Chippewa Cree Tribe, may be the focus of a class-action lawsuit claiming the internet financing company runs utilizing “extortionate” and “predatory” financing techniques focusing on lots of people that are struggling economically.

The suit, filed Wednesday, additionally alleges that Plain Green hides behind the doctrine of tribal sovereignty to prevent obligation due to their illegal lending techniques.

Plain Green had been created in 2011 after Montana voters passed a ballot effort interest that is capping on short-term loans at 36 %.