RELEASE: NAFSA Files Amicus Brief in Key Tribal Sovereignty Case before the Supreme Court
Great Plains Lending, LLC, and Plain Green, LLC v. Consumer Financial Protection Bureau concerns the CFPB’s authority over tribal lending entities WASHINGTON, DC – The Native American Financial Services Association (NAFSA) submitted an amicus brief this week in...
NAFSA files Amicus Brief with United States Supreme Court
On Tuesday September 5, 2017, NAFSA successfully filed with the United States Supreme Court an Amicus Brief in support of the petition for certiorari in case no. 17-184, Great Plains Lending, LLC, and Plain Green, LLC v. Consumer Finance Protection Bureau. Below is...
Fed Study Concludes FinTech Boosts Financial Inclusion
The Federal Reserve Bank of Philadelphia recently found that consumers in underserved credit markets (like areas that have experienced bank closures) benefit from the additional credit supply provided by online lenders. In particular, study data showed that the online...
BLS Releases Report On Consumer Spending
The Bureau of Labor Statistics reported late last week that consumer spending was up 2.4% in 2016 to $57,311, but fell short of the 4.6% increase in 2015. Expenditures rose sharply for rental housing last year, as rental spending once again outpaced mortgage expenses....
Scott Tucker Nears Trial for Payday Loan Rent-a-Tribe Scheme
A New York federal district court is preparing to hear the trial of payday-lender-turned-race-car-driver Scott Tucker beginning September 11th. Last year, federal district attorneys brought a $2 billion action against Tucker and his business associate, Timothy Muir,...
FinTech Poised to Capture Burgeoning Millennial Small Businesses
While the biggest banks continue to ignore credit demands from small businesses, FinTech companies are finding ways to help the nearly 28 million small businesses in America. Public-private partnerships are moving payment processing to the next level, and FinTech...
Study Shows Nearly 4 in 5 Americans Live Paycheck to Paycheck
A recent study by Harris Poll on behalf of CareerBuilder, a talent acquisition company, found that 78% of Americans are living paycheck to paycheck, including nearly 1 in 10 who make more than $100,000 per year. Twenty percent of American workers have missed a payment...
Class Action Settles Alleged Kickback Scheme with PHH Corp. for $17 Million
A California class action against PHH Corp. and Realogy alleging an elaborate kickback scheme to funnel referrals to subsidiaries in violation of the Real Estate Settlement Procedures Act has settled for $17 million. The settlement does not include an admission of...
