Minnesota Settlement Ends Nearly 700% Interest on Plain Green Loans
Minnesota Attorney General Keith Ellison has reached a court-approved settlement with online lender Plain Green, LLC, ending a federal lawsuit over loans carrying interest rates that approached 700%.
Under the settlement, Plain Green may collect only the original principal remaining on existing Minnesota loans. All interest on those loans is canceled, and payments consumers have already made will be credited toward the principal balance. The company is also permanently barred from making loans to Minnesota residents that violate the state’s lending laws.
The Attorney General’s Office said the interest rates charged by Plain Green were more than 80 times Minnesota’s legal cap. The agreement resolves a lawsuit filed by Ellison’s office in March 2026.
“Predatory lenders cannot hide behind a legal loophole to gouge Minnesotans with triple-digit interest rates,” Ellison said in announcing the settlement. He added that the Plain Green agreement marks the third enforcement action of this kind completed by his office in less than two years.
Lawsuit Challenged Plain Green’s Lending Practices
The lawsuit focused on loans marketed to Minnesota consumers seeking access to short-term emergency funds.
According to the Attorney General’s Office, Plain Green typically issued loans ranging from $350 to $1,500. The state alleged that the loans carried interest rates far above those permitted under Minnesota law.
Plain Green is owned by a federally recognized Native American tribe. According to the state’s complaint, the lender maintained that Minnesota lending laws did not apply to its operations because of that tribal ownership.
The Attorney General’s Office took a different position. It argued that Minnesota consumer lending requirements apply when lending activity is directed toward Minnesota residents, regardless of the lender’s ownership structure.
The resulting settlement requires Plain Green to change its lending practices in Minnesota rather than continue collecting the disputed interest amounts.
Settlement Addresses Tribal Sovereignty
The agreement does not impose civil penalties or monetary damages against Plain Green.
The Attorney General’s Office said the structure of the settlement reflects the sovereign immunity held by federally recognized tribes. Instead of seeking penalties, the agreement focuses on bringing future lending activity into compliance with Minnesota law and eliminating interest the state alleged was unlawful.
Existing borrowers will therefore remain responsible only for qualifying principal balances after their previous payments are applied.
The Attorney General’s Office described the approach as an effort to enforce Minnesota’s consumer protection laws while respecting the sovereignty of Plain Green’s tribal owner.
Minnesota Has Pursued Similar Online Lending Cases
The Plain Green settlement follows two other agreements involving tribal-owned online lending businesses operating in Minnesota.
In February 2024, the Attorney General reached a settlement with Bright Lending, Green Trust Cash, and Target Cash Now. The state had accused the companies of issuing thousands of loans carrying annual interest rates between 400% and 800%.
That agreement stopped the lenders from continuing the challenged lending and collection practices in Minnesota.
Another settlement followed in November 2024 involving 12 online lenders owned by LDF Holdings, LLC. The agreement required the lenders to cancel existing balances that the Attorney General’s Office estimated totaled more than $1 million.
Those companies were also required to stop issuing loans carrying interest rates between 200% and 800% that violated Minnesota lending requirements.
The Plain Green agreement now becomes the third settlement cited by the Attorney General’s Office as part of that broader enforcement effort.
What the Settlement Means for Minnesota Borrowers
Minnesota consumers with existing Plain Green loans may contact the Attorney General’s Office for information about how the settlement affects their accounts.
The office is also encouraging consumers who believe another online or brick-and-mortar lender has charged excessive interest or engaged in fraudulent or unlawful conduct to submit a complaint.
The Plain Green settlement highlights the continuing scrutiny of high-cost online lending arrangements and the legal questions that can arise when lenders operate across state lines or through tribal ownership structures.
For borrowers affected by this case, the immediate impact is more direct. Interest on existing Plain Green loans covered by the settlement will no longer continue to accumulate, while prior payments will count toward the principal amount owed.
