Important Disclosures. Please Read Carefully. This service is not available in all states. If you request a loan in a particular state where such loans are prohibited, or in a location where WhiteRockLoans. com does not have an available lender, you will not be connected to a lender. In some cases, you may be given the option of obtaining a loan from a tribal lender.
The very purpose of an online lender affiliating with a tribe is specifically and expressly so that they can lend in violation of state laws, Ellen Harnick, a payday lending expert at the Center For Responsible Lending, told HuffPost.
And it's the poorest Americans -- the ones who need quick cash to address the most pressing issues in their lives -- who are most at risk. State regulators have taken numerous measures to protect borrowers, passing laws limiting the size and frequency of short-term loans and setting maximum interest rates that lenders can charge borrowers.
Laws in 14 states and D. that outlaw payday lending make online, high-interest installment lending illegal as well. The Consumer Financial Protection Bureau is also in the midst of writing the first federal payday lending regulations. But by working with Native American tribes, companies like Think Finance have largely managed to stay one step ahead of consumer protection laws. T he Think Finance-Plain Green business model is representative of these growing online payday lending operations.
The loans, and millions of dollars of fees paid to Think Finance, pass through Plain Green fleet capital cash advance circumvent state regulations, while the real fleet capital cash advance of running the lending business happens elsewhere.
If you request a loan in a particular state where such loans are prohibited, or in a location where WhiteRockLoans. com does not have an available lender, you will not be connected to a lender.
In some cases, you may be given the option of obtaining a loan from a tribal lender. Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps.
If you are connected to a tribal lender, please understand that the tribal lenders rates and fees may be higher than fleet capital cash advance lenders.
Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction.