Tribal Lending and the Economic Diversification of Reservations
Over the past decade, the United States has seen migration patterns focus heavily on urbanized areas and megaregions. Between 2010 and 2014, rural areas lost an average of 33,000 people each year. As it stands, 72% of America’s land area is only inhabited by 14% of...
CHOICE Act Met with Partisan Disagreement But Passes Committee
After failing to vote on the bill again on Wednesday, the debate over the CHOICE Act in the House Financial Services Committee extended into Thursday as was finally passed by the committee with a vote of 32-24 along party lines. Partisan lines were drawn by the...
Proving Identity Remains Roadblock to Accessing Capital Worldwide
A 2016 report by the World Bank titled, Identification for Development, calculated that over one-fifth of the world population cannot prove their identity, accounting for nearly 1.5 billion people globally. The inability to prove identity can create significant issues...
CSBS Sues OCC Over FinTech Charters
The Conference of State Bank Supervisors (CSBS) filed a lawsuit on April 26th seeking declaratory and injunctive relief against the Office of the Comptroller of the Currency’s (OCC) recent FinTech chartering system. In its complaint, the CSBS voiced concerns over the...
CFPB’s Suit Against Four Tribally-Owned Lending Entities Another Troubling Action from Controversial Agency
On Thursday, April 27th, the Consumer Financial Protection Bureau (CFPB) filed a complaint in the U.S. District Court for the Northern District of Illinois alleging violations of the Truth in Lending Act (TILA) and Title X of the Dodd-Frank Wall Street Reform and...
Supreme Court Refuses to Extend Immunity to Tribal Gaming Employee
On April 25th, the U.S Supreme Court issued its opinion in Lewis v. Clarke, a case centered on tribal sovereignty and the actions of tribal employees outside tribal lands. Clarke operated a limousine for the Mohegan Sun Casino, an economic arm of the Mohegan Tribe....
CHOICE Act Hearing Focuses on Bank Regulation, Offers Changes to CFPB
The House Financial Services Committee held a hearing on April 26th titled “A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs” to discuss the provisions of the recently revamped CHOICE Act, a replacement for many of the...
BuzzFeed: A Fight Between Native American Lenders And The Government Could Reach The Supreme Court
Consumer Financial Protection Bureau v. Great Plains Lending, LLC, et. al. is a very important court case for those operating in the tribal lending space, including NAFSA members. We took the time to explain some of the nuances about the case and the underlying issues...
