Berman Tabacco

Plain Green Tribal Lending

Gingras v. Rosette, No. 5:15-cv-00101-GWC (D. Vt.), and Gingras v. Victory Park Capital Advisors, LLC, et al., No. 5:17-cv-233 (D. Vt.)

Berman Tabacco is currently co-lead counsel in this class action litigation brought on behalf of individuals who took out high interest rate loans from Plain Green, an online payday lender that purports to be an arm of the Chippewa Cree Tribe of the Rocky Boy’s Reservation (the “Tribe”). Plaintiffs allege that certain individuals and entities unaffiliated with the Tribe created Plain Green in a “rent-a-tribe” scheme designed to circumvent state and federal law, including RICO, usury laws and other laws against high-interest “payday loans,” to make small-dollar loans that carry annual interest rates in excess of 360%. The loan agreements associated with plaintiffs’ loans purport to be governed by the law of the Tribe (not the law of the borrower’s home state or federal law), and seek to force all disputes into arbitration that would be governed by tribal law only.