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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. We are proud to be a service-provider to Plain Green LLC, she said. After entering into its arrangement with the Chippewa Cree, Think Finance also made deals with two other tribes: the Otoe-Missouria in Oklahoma, which run Great Plains Lending, and the Tunica-Biloxi in Louisiana, which run MobiLoan.
Think Finance also sells its technology to banks that create and issue consumer lending products. And in 2014, it spun off its own consumer lending products into a separate company, Elevate, of which Ken Rees is the CEO.
Think Finances former chief integrity officer, Martin Wong, is Think Finances current CEO. There is a strategic smokescreen in place obfuscating the true relationship between Think Finance and Plain Green Loans, said Radek Jagielski, a senior analyst at PrivCo, a provider of financial data on capitec personal loan application online held companies.
Jagielski researched the companies at HuffPosts request.
Loan proceeds issued through our website are generally deposited via ACH for delivery next capitec personal loan application online day if approved by 8pm CT Mon. Fri. Check City acts as a credit services organizationcredit access business (CSOCAB) in Texas and is not the lender loans there are made by a third-party lender. This is an invitation to send a loan application, not an offer to make a short term loan. This service does not constitute an offer or solicitation for payday loans in Arizona, Arkansas, Colorado, Georgia, Maryland, Massachusetts, New York, Pennsylvania, or West Virginia.
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