November 13, 2014

Pennsylvania Attorney General Kathleen G. Kane announced a consumer protection lawsuit against Texas-based companies Think Finance Inc. (formerly ThinkCash), TC Loan Services LLC, Elevate Credit Inc., Financial U LLC and former CEO Kenneth E. Rees for allegedly engineering an illegal payday loan scheme over the Internet. According to the lawsuit, Think Finance targets consumers in Pennsylvania using three Native American tribes, who function as the apparent lender, as a cover. In turn, Think Finance earns significant revenues from various services it charges to the tribes.