The Latest Financial News
Banks, Lenders Moving Away from FICO for Loan Determinations
Large banks and lenders are moving away from using FICO credit scores for consumer credit decisions like auto loans and mortgages. FICO has provided scores for nearly 200 million U.S. consumers, but regulators are concerned that it leaves too many consumers out...
“Buy Now, Pay Later” Firms Continue to Gain Popularity
Recent data from Morning Consult showed that awareness and usage of “Buy Now, Pay Later” (BNPL) services have steadily increased since the start of the coronavirus pandemic. 17 percent of U.S. adults—and nearly a quarter of younger consumers—used a BNPL service for...
In advance of Senate Banking Committee Hearing, NAFSA Sends Letter to Committee Leadership Opposing 36 Percent Rate Cap
Yesterday, the Senate Banking Committee convened a hearing to examine the extension of the Military Lending Act (MLA)’s 36 percent APR cap to all consumer loans. This came a day after Banking Committee Chairman Sherrod Brown (D-Ohio), along with Senators Reed...
Featured Resources
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.
Why NAFSA?
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
Our Mission
To advocate for tribal sovereignty, promote responsible financial services, and provide better economic opportunity in Indian Country for the benefit of tribal communities.
To protect and preserve the sovereignty of Native American tribes while offering an unprecedented opportunity for tribal economic growth
Growing opportunity for Indian Country in the financial services industry
Advancing financial literacy in tribal communities
