The Latest Financial News
After years in development, the Fair Isaac Corporation (FICO) has unveiled its new credit scoring system called UltraFICO. The new system provides consumers the opportunity to modify their credit score by allowing lenders to use data from the borrowers’...
Interactive Map Shows Importance of Native American Financial Institutions in Combating Credit Deserts
The Center for Indian Country Development (CICD) has recently unveiled a new interactive map of Native American-owned financial institutions. The map includes the locations and asset sizes of banks, credit unions, and community development financial...
Pew Charitable Trusts, an organization founded on religious conviction and oil profits, has published a new report on installment loans, making the argument that state laws are putting the borrowers of these loans at risk. Pew researchers reviewed state...
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.