The Latest Financial News
Earlier today, the Consumer Financial Protection Bureau (CFPB) issued a request for comments on the Equal Credit Opportunity Act (ECOA), a federal law that makes it illegal for any creditor to discriminate against any applicant on the basis of certain characteristics....
In an appeal filed last Friday, the Consumer Financial Protection Bureau (CFPB) argued that its organizational structure, including its “for-cause removal” provision, was constitutional because it met U.S. Supreme Court precedent.The debate surrounding CFPB’s...
On February 15, Congress provided $10.8 million to the Indian Loan Guarantee Program for the 2019 fiscal year, an increase of 16 percent from the year before. This important program provides financial institutions a great opportunity to invest in tribally-owned...
Our Digital Financial Literacy Program
Too many consumers mismanage their budgets, make poor investment decisions, and fail to properly plan for the future. NAFSA is committed to empowering people with the skills they need to change this trend and thrive financially. NAFSA’s Financial Literacy Program offers an assortment of digital modules covering a wide variety of financial topics, including building emergency savings, mortgage education, and retirement planning.
Tribal Online Lending Best Practices
NAFSA has developed Best Practices for the exclusive use of all NAFSA Members as it relates to their Tribal Online Lending businesses. We believe these Best Practices will help ensure consumer protection, quality service, and positive customer and industry interactions during the life of the loans made by tribal lending entities who are NAFSA members. Our Best Practices apply to all stages of the loan, including marketing, origination, servicing, collecting, and ongoing data privacy.
The Impact of Tribal Financial Services
Coming from a history of staggering unemployment rates, limited opportunities, and lack of access to fundamental resources, Native American tribes began online lending businesses to create real change for the future. Internet commerce has been a vehicle for supporting economic growth, tribal services, and tribal development. These are their stories.
There are more than 570 federally-recognized tribes in the United States, many of whom are spread across in diverse areas. This has left a need for other tribal economic development opportunities to create sustainability and jobs on Native American reservations.
Tribal Financial Services:
Create jobs & economic development on tribal lands
Increase the financial independence of tribes
Deploy sovereignty & bolster tribal self-determination
To advocate for tribal sovereignty, promote responsible financial services, and provide better economic opportunity in Indian Country for the benefit of tribal communities.