Lender Think Finance Cheats Virginia Consumers Out of $68 Million in Interest, Says Class Action Lawsuit

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Think Finance Payday Lending Class Action Lawsuit Overview

• Where: The class action lawsuit is pending in Virginia federal court.
• Who: A Virginia federal judge granted Class certification to Virginia consumers suing owners of payday lender Think Finance.
• Why: Think Finance owners are accused of illegally charging excessively high loan interest rates.

A group of Virginia consumers have been granted Class certification for a class action lawsuit against the owners of Think Finance who allegedly used Native American-owned loan companies as fronts to charge Virginia consumers illegally high rates. 

The certified Class includes Virginia consumers who obtained any loan from and made payments to Great Plains Lending, Plain Green, and MobiLoans. The lead plaintiffs are Darlene Gibbs, Stephanie Edwards, George Hengle, Patrick Inscho, Lawrence Mwethuku, Tamara Price, and Lula Williams. 

The owners of Think Finance are Michael and Linda Stinson, Stephen Shaper, 7HBF No. 2 Ltd., and Startup Capital Ventures. 

Think Finance Payday Lending Scam Used Native-Owned Companies for Profit

Think Finance used tribal companies to make loans in order to get around Virginia’s state usury laws, which prevent lenders from charging above 12% interest rates, according to the complaint. 

Due to these illegally high rates, Virginia consumers paid more than $68 million in interest, totaling $172 million in total loan payments. 

Plain Green was owned by the Chippewa Cree Tribe of the Rocky Boy’s Reservation in Montana, Great Plains by the Otoe-Missouria Tribe of Oklahoma, and MobiLoans by the Tunica-Biloxi Tribe of Louisiana, per the class action. 

This class action lawsuit is separate from the 2019 nationwide class action lawsuit and subsequent settlement against Think Finance, Great Plains Lending, Plain Green, MobiLoans, and others involved in the lending scheme.

Have you taken out a loan from Great Plains Lending, Plain Green, MobiLoans, or another Think Finance company? What was your experience like? Let us know in the comments section below!

The plaintiffs are represented by Kristi C. Kelly, Andrew J. Guzzo, and Casey Nash of Kelly Guzzo PLC; and Leonard A. Bennett, Kevin Dillon, and Craig C. Marchiando of Consumer Litigation Associates PC. 

The Think Finance Payday Lending Class Action Lawsuit is Gibbs, et al. v. Stinson, et al., Case No. 3:18-cv-00676-MHL, in the U.S. District Court for the Eastern District of Virginia. 

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