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That outlaw payday lending make online, high-interest installment lending illegal as well. 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 sbi new personal loan scheme the lending business happens elsewhere.
Thanks to Think Finance's online lending platform, Plain Green is able to make loans atm cash adv/avance de fonds 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 sbi new personal loan scheme. We are proud to be a service-provider to Plain Green LLC, she said.