Great Plains Lending and Plain Green Loans have stopped marketing new loans pending the outcome of a court case in which the NY Attorney General sued another payday lender for offering loans in the State of New York. Both these lenders are operated by Think Finance as tribal entities under the premise that they can export their tribal laws into states. The New York regulator’s position is that it has the authority to regulate tribal lenders doing business in New York. They sent cease-and-desist orders to many online payday lenders offering loans New York.
Both Great Plains Lending and Plain Green Loans stopped marketing in the middle of August 2013 and very briefly re-started marketing on Oct 1, 2013 but quickly stopped again after The U.S. District Court for the Southern District of New York ruled in favor of New York. It ruled that the state can regulate lenders making loans to New York state residents even when loans are originated from offices on tribal land.
The American Banker reports on this as well: NY Can Regulate Lenders with Tribal Ties.
If you need an installment loan you might consider Rise Credit, another installment loan lender also operated by Think Finance, or Net Credit. Both Net Credit and Rise Credit are state licensed. Also see Installment Lenders for additional state-licensed lenders.
We will continue to update this page as new information is made available.