High Country Ventures

The tribe partnered with Think Finance and renamed its lending company Plain Green. Think Finance agreed to build a call center to serve the payday lending business, according to the agreement between the company and the tribe, and the Chippewa Cree planned to use revenue from the venture to fund social welfare programs and help build a new tribal health center. Tasmania Posted on December 4, Finally a night in Denver at the Crawford hotel and a sumptuous meal with our ever generous host Chad McWinney — the meal at Stoic and Genuine, as last time, unforgettable — thanks Chad!! The highlight will be reconnecting with Rennies mum, Nina and her magic blackberry jam that the boys so enjoy picking for.

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 · UNITED STATES DISTRICT COURT DISTRICT OF SOUTH DAKOTA CENTRAL DIVISION FEDERAL HIGH COUNTRY VENTURES, LLC, * a South Dakota limited Red River Ventures advertised and offered payday loans to consumers through the Internet websites premiumwebtheme.tk and premiumwebtheme.tk Red River premiumwebtheme.tk /documents/cases//03/premiumwebtheme.tk  · HIGH COUNTRY VENTURES, LLC, * a South Dakota limited liability company; * with the offering and extension of credit in the form of high-fee, short-term "payday" loans, and the collection of those loans. JURISDICTION AND VENUE Complaint for Permanent Injunction and Other Equitable Relief premiumwebtheme.tk /documents/cases//09/premiumwebtheme.tk I have currently 4 payday loans and was wondering about indiana regarding these fastcash, oneclickcas, pdloutbacks and pdl high country premiumwebtheme.tk://premiumwebtheme.tk

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Cash Call - Anaheim California. Political Signs Must Go! Celebrity Skin Cream wrinkle cream rip-off advertisements US Based and Foreign companies bilked consumers out of Hundreds of Millions of dollars over the past 7 years. What the BBB has done to consumers for over years is one of the many reasons why Ripoff Report was created. View More Recent Featured Reports. We Need Your Help! Sat, August 25, Updated: Sat, August 25, Reported By: Reputation Management Corporate Advocacy Program This is the best way to manage and repair your business reputation.

Show customers why they should trust your business over your competitors Add Rebuttal to this Report. The AG offices needs more and more complaints to come in so they can have a PILE of evidence to bring these thieves down for good. Webb, for making unlicensed, high-interest loans to Colorado consumers. According to the lawsuit, filed in Denver District Court, the company made more than loans to Colorado consumers since at least March , during which time it was not licensed with the state.

The loans' annual percentage rates ranged from percent to percent. Because Western Sky Financial made loans with interest rates higher than 12 percent, it must be licensed. The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved.

We are providing a summary of the government's allegations, which have not yet been proven. The amended complaint was filed in the U. In its amended complaint, the FTC charged that South Dakota-based payday lender Payday Financial, LLC suits against customers are unfair and that its contract language about the court where such suits would be brought is deceptive.

When customers fall behind in their payments, Payday Financial, LLC improperly files suits against them in the Cheyenne River Sioux Tribal Court, attempting to obtain a tribal court order to garnish their wages, the amended complaint alleges.

The tribal court does not have jurisdiction over claims against people who do not belong to the Cheyenne River Sioux Tribe and who do not reside on the reservation or elsewhere in South Dakota. Webb and several others named as defendants pitch short-term, high-fee, unsecured payday loans to consumers on television and the Internet. This case is pending. For updates or further details concerning this case, please contact the Federal Trade Commission.

After the Federal Trade Commission filed an action in U. On September 6, , the FTC filed a complaint for permanent injunction and other equitable relief in US District Court, District of South Dakota, Central Division, that alleges that Payday Financial, LLC, doing business as Lakota Cash and Big Sky Cash, along with other defendants, illegally attempted to garnish consumers' wages without obtaining a court order, to collect payments on payday loans.

Payday loans typically come with high interest rates that can add hundreds or thousands of dollars to the original loan amount and trap poor borrowers in a cycle of debt. For this reason, many states have cracked down on payday lenders. Fourteen states and the District of Columbia ban payday loans altogether, and all of the remaining states regulate payday lending to some degree. With Think Cash, Rees had found a clever way around these regulations: The loans were passed through a nationally chartered bank, thereby exempting them from state banking laws.

This "rent-a-bank" model had been popular among online payday lenders since at least the late s. But by , various federal regulators had all but shut down the arrangement. Rees needed a new way to keep his business alive. The solution he found was relatively straightforward: Think Cash renamed itself Think Finance, and in early March sent a letter to the Chippewa Cree Tribe proposing that they create a joint lending venture.

Such arrangements between online payday loan companies and Native American tribes have become increasingly popular. The Chippewa Cree, a small tribe with about 6, members in a remote part of Montana near the Canadian border, made an ideal partner for Think Finance.

Jobs on the reservation are scarce, and unemployment there hovers between 60 and 70 percent. The arrangement with Think Finance offered a way to generate millions of dollars for the tribe and spur wider economic development on the reservation.

Think Finance agreed to build a call center to serve the payday lending business, according to the agreement between the company and the tribe, and the Chippewa Cree planned to use revenue from the venture to fund social welfare programs and help build a new tribal health center. According to one tribal leader with direct knowledge of the deal, Think Finance also made it clear to the Chippewa Cree that if the tribe didn't accept Think Finance's terms, the company would be perfectly happy to find another tribe that would.

The tribe partnered with Think Finance and renamed its lending company Plain Green. The tribe would own 51 percent of the company, and Think Finance would own 49 percent. Like traditional payday loans, installment loans are small loans with high interest rates that often trap borrowers in a morass of debt. Unlike traditional payday loans, they are paid back over time periods longer than a single pay cycle.

Plain Green says its minimum repayment cycle is four months. Like Think Cash before it, Plain Green makes small, short-term, high-interest loans to people all over the country who have no other source of credit. Although the company is nominally owned by the Chippewa Cree, the tribe has little actual involvement in its operations and receives a tiny fraction of the revenue generated by the business. A March 11, , agreement between the tribe and Think Finance submitted as an exhibit in that case says that Plain Green had received 4.

T he huge possibility for profit in this industry has caught the attention of Silicon Valley investors, who look at the people on the fringes of the banking system and see a huge potential customer base.

Almost 10 million American households have no bank account. A further 25 million households almost 1 in 5 have a bank account but also use non-bank financial products like payday loans. Think Finance has benefited from this flow of Silicon Valley money. Through a spokeswoman, Technology Crossover Ventures declined to comment. Sequoia did not respond to requests for comment. While lending companies and their investors rake in money, however, the situation is more precarious for the more than 3 million Americans who take out online payday loans each year.

And it's the poorest Americans -- the ones who need quick cash to address the most pressing issues in their lives -- who are most at risk. State regulators have taken numerous measures to protect borrowers, passing laws limiting the size and frequency of short-term loans and setting maximum interest rates that lenders can charge borrowers.

Laws in 14 states and D. The Consumer Financial Protection Bureau is also in the midst of writing the first federal payday lending regulations. But by working with Native American tribes, companies like Think Finance have largely managed to stay one step ahead of consumer protection laws.

T he Think Finance-Plain Green business model is representative of these growing online payday lending operations. The loans, and millions of dollars of fees paid to Think Finance, pass through Plain Green and circumvent state regulations, while the real work of running the lending business happens elsewhere.

Thanks to Think Finance's online lending platform, Plain Green is able to make loans all over the country. Eventually, the loans end up owned by a Cayman Islands servicing company.

And Plain Green, which cites the Chippewa Cree's sovereignty in its lending agreement with customers, says that state and federal regulators have no legal standing to complain. Jen Burner, a Think Finance spokeswoman, told HuffPost that the company simply licenses its tools and support services to clients. After entering into its arrangement with the Chippewa Cree, Think Finance also made deals with two other tribes: Think Finance also sells its technology to banks that create and issue consumer lending products.

And in , it spun off its own consumer lending products into a separate company, Elevate, of which Ken Rees is the CEO. According to the agreement submitted as an exhibit in tribal court and a former Plain Green executive, Think Finance provided everything the tribe needed to start the online lending business: That meant that technically, the loans were made by Plain Green, despite the fact that the tribal company had no meaningful role in the lending process.

To find more people to make loans to, Plain Green pays a company called Tailwind Marketing, which Think Finance has said in federal court motions is also one of its entities.