Plain Green Loans
Plain Green Loans is a tribal lending online business owned by the Chippewa Cree Tribe on the Rocky Boy Indian Reservation, specializing in short term loans. As of December 2011, its activities are challenging "the ability of state regulators to enforce the loan market to police caps and other consumer protection measures," and simultaneously raising questions in regard to tribal sovereignty. In February 2012, a coalition of Indian tribes welcomed a Colorado court ruling that tribal immunity has no territorial boundaries.
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.
Despite having earned an "F rating by the Better Business Bureau" within one year of its founding, a tribal spokesman states that "This model could be the successor to gambling for tribes looking for an economic boost."
- Leeds, Tim (November 3, 2011). "Havre Daily News". PDL Ventures in last days, Rocky Boy tribal rep says (Havre, Montana). Retrieved December 27, 2011.
- Volz, Matt (Dec 27, 2011). "Missoulian". Chippewa Cree tribe cashes in on high-interest online loans (Missoula, Montana). Associated Press. Retrieved December 27, 2011.
- "Indian tribes welcome ruling on sovereignty". Denver Post. 15 February 2012. Retrieved 15 February 2012.
- Volz, Matt (December 26, 2011). "The Guardian". Tribe's high-interest online lending venture booms (London, England). AP Foreign. Retrieved December 27, 2011.
- "Plain Green Loans – Online Personal Loans, Fast Cash Loans". Retrieved 2012-11-09.