New FDIC Guidance Sent to Banks Will Help Promote Innovation and Economic Development in Indian Country and Preserve Consumer Access to Credit
WASHINGTON, DC (November 19, 2015) – The Native American Financial Services Association (NAFSA) today commended the Federal Deposit Insurance Corporation (FDIC) for taking steps to correct the damage done by Operation Choke Point to legal, licensed Native American online lenders. In a Financial Institution Letter (FIL) released this week, the FDIC formally amended its guidance to make explicit that banks may offer products and services to non-bank lenders like the members of NAFSA who operate in compliance with applicable laws.
Read the full press release here: http://nativenewsonline.net/currents/nafsa-commends-fdic-for-step-forward-on-reversing-damage-of-operation-choke-point/
