OUR MEMBER'S STORIES
Native American tribes have suffered a history of staggering unemployment rates, limited opportunities, and a lack of access to fundamental resources. Tribes began financial services businesses to combat this history and create real change for the future. E-commerce has been a vehicle for supporting economic growth, tribal services, and tribal development.
The Latest Financial News
Latest Federal Reserve Economic Well-Being Report Finds Self-Reported Financial Well-Being Declined in 2022
Last month, the Federal Reserve issued its “Economic Well-Being of U.S. Households in 2022” report, which shows that higher prices have negatively impacted the general well-being of most households, but workers have continued to benefit from a strong labor market. The...
CFPB Report Finds Overdraft and NSF Fee Revenue Dropped by Nearly 50% in Q4 2022
The Consumer Financial Protection Bureau (CFPB) recently released a report highlighting overdraft and non-sufficient funds (NSF) fee revenue, finding that revenue for the fourth quarter of 2022 was approximately $1.5 billion lower than that of 2019, a decrease of 48...
Important things to know about how Businesses Use Credit
Regardless of whether you are starting up your business or one to five years into your journey, there is a good chance that at some point you will need to take out a loan or find a source of financing. Understanding how a business uses credit and the different types...
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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.