The Latest Financial News
According to a report by the Federal Reserve Bank of New York’s Center for Microeconomic Data, household debt rose again in the second quarter of 2017 to $9.14 trillion. At $8.69 trillion, home mortgages account for the vast majority of household debt. When combined...
Attorneys for the Consumer Financial Protection Bureau (CFPB) filed a memorandum to the U.S. District Court of Northern Illinois on Monday arguing the district judge should deny a motion to relocate the agency’s hotly contested case against four tribal lending...
Two tribal lending entities (TLEs), Great Plains Lending of the Otoe-Missouria Tribe and Plain Green of the Chippewa Cree Tribe, filed a petition for certiorari with the U.S. Supreme Court to review a January 2017 decision by the Ninth Circuit. The circuit court...
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.