The Latest Financial News
According to Politico, the Office of the Comptroller of the Currency (OCC) and Avant, an online lender, are in high-level discussions regarding the federal agency’s fintech charter. Barring any mishaps, Avant is likely to be the first company to apply for the...
In its Annual Performance Report, the Small Business Administration (SBA) announced that to cover the costs of its 7(a) loan guaranty program, SBA would either have to raise fees or it would need an additional $99 million in Congressional funding. With the 7(a) loan...
Investments can be a great way to grow your hard-earned money over time. For many people, the idea of investing is both exciting and daunting. In this post, the Native American Financial Services Association (NAFSA) will explore a few basic investment concepts and...
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.