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 3 personal loan, 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 3 personal loan 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 privately held companies. Jagielski researched the companies at HuffPosts request.
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