The Latest Financial News
Sen. Jeff Merkley is looking to crack down on payday lenders taking their business online. But his effort could be complicated by a group of Native American lenders who are crying foul over the measure and say it intrudes on tribal sovereignty. Earlier this week,...
Tribal governments are looking to the lending industry for the kind of economic boost that casino gambling has offered over the past 25 years. "We are excited. It's really a dynamic time for tribes in terms of a new economic development opportunity for them," said...
The Turtle Mountain Band of Chippewa has teamed up with a financial service company run by a former Google executive to launch an online lending business. The tribally-owned BlueChip Financial opened an office in Belcourt July 5 with 12 employees. Additional hiring is...
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.