The Latest Financial News
46% of Americans Carry Credit Card Balance and 23% Don’t Think They Will Ever Pay it Off
A recent Bankrate survey found that 46 percent of Americans carry a credit card balance month to month, and 23 percent believe they will never get out of credit card debt. A growing number of Americans are holding long-term debt, as 60 percent of credit card debtors have been in…
Trump Signs First Major Cryptocurrency Bill Into Law
Last week, President Trump signed the GENIUS Act, making it the first major cryptocurrency bill to become law. The legislation establishes a regulatory framework for stablecoins, which are dollar-backed digital tokens, in an effort to assert U.S. dominance of crypto technology and global finance. “This could be perhaps the greatest…
Senate Confirms Jonathan Gould as Comptroller of the Currency
Last week, the U.S. Senate confirmed Jonathan Gould to serve as Comptroller of the Currency by a vote of 50-45. Gould served as chief counsel and senior deputy comptroller of the Office of the Comptroller of the Currency (OCC) from 2018-2021, and will become the agency’s first confirmed comptroller since…
Credit Cards, Credit Reporting Disputes Lead FDIC Consumer Complaints
According to the FDIC’s Consumer Compliance Supervisory Highlights, the agency processed a surge in consumer complaints last year led by credit cards as the most frequently cited product and credit reporting disputes as the most frequent issue. There was a 14 percent increase in written complaints and telephone inquiries in…
Congress Passes and President Signs Bill Slashing CFPB Budget
Last week, Congress passed and President Trump signed the “Big, Beautiful Bill,” the tax and budget package that the legislative branch has been debating for months. One provision of the bill cuts funding for the Consumer Financial Protection Bureau (CFPB) nearly in half, as it lowers the maximum amount of…
Alaska Governor Vetoes Rate Cap Bill
Alaska Governor Mike Dunleavy has vetoed a bill that would have capped interest rates for consumer loans up to $25,000 at 36 percent, which opponents of the legislation say would have drastically limited credit access in the state. Senate Bill 39 passed both the Alaska House and Senate this session…
FICO Announces Plans to Include BNPL Data in Credit Scores
FICO recently announced two credit scores that will include consumers’ record of buy now, pay later (BNPL) loans, both of which will launch in the fall. FICO Score 10 BNPL and FICO Score 10 T BNPL are meant to account for consumers’ increasing use of BNPL loans, giving lenders’ more…
Senate Parliamentarian Says Budget Bill Can’t Cut CFPB Funding
As Congress continues to hammer out the details of the tax and spending package passed by the House in May, Senate Parliamentarian Elizabeth MacDonough recently ruled that the Republicans’ attempt to defund the Consumer Financial Protection Bureau (CFPB) in the bill violated Senate rules. Because the measure is being pushed…
CFPB’s Top Enforcement Official Resigns
Last week, CFPB acting head of enforcement Cara Petersen turned in her resignation after sending an email to colleagues criticizing the Trump administration’s efforts to dismantle the agency. Petersen served at the Bureau since its creation nearly 15 years ago but said that the current White House’s overhaul of the…
New Report Finds Consumer Credit Usage Surged in April
The most recent consumer credit data from the Federal Reserve indicated that consumers turned to credit to pay for goods and services at a significantly elevated rate in April. The aggregate tally of consumer credit surged by $17.9 billion, exceeding consensus estimates of a $11.4 billion gain. These findings indicate…
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.
Expanding Our Advocacy: Tribal Finance in the Digital Age
NAFSA is evolving to meet the financial future of Indian Country.
While we continue our core mission of protecting and advancing tribal online lending, we are expanding our advocacy to address the growing need for tribal leadership in emerging digital finance sectors—including cryptocurrency, blockchain, decentralized finance (DeFi), sovereign fintech regulation, and more.
These technologies hold tremendous potential for economic diversification, revenue generation, and the protection of tribal sovereignty in the 21st century. That’s why NAFSA is now actively supporting tribal governments and enterprises in:
Exploring the legal and economic implications of blockchain and crypto adoption.
Designing tribal digital asset regulations and policy frameworks.
Understanding the opportunities and risks in crypto mining, tokenized assets, and sovereign digital payments.
Building capacity for responsible digital lending, e-commerce, and fintech innovation under tribal law.
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.
Promoting Tribal Consultation in Federal Policymaking
Engaging federal agency leadership to promote Tribal consultation and protect sovereignty in regulatory policymaking.
Convening Leadership at the Native Finance Summit
Hosting the Native Finance Summit to unite leaders and drive innovation in Tribal economic development.
Legal Advocacy Through Amicus Briefs
Advancing Tribal sovereignty by filing amicus briefs that shape legal precedent in key federal and Supreme Court cases.
Supporting Tribes in Emerging Financial Technologies
Supporting Tribal Nations through education and awareness to explore, understand, and shape their role in emerging financial technologies.
Coordinating Congressional Advocacy on Capitol Hill
Coordinating Capitol Hill Day to empower Tribal leaders in advocating directly with Congress on sovereignty and economic priorities.
Strengthening Tribal Financial Governance
Supporting Tribal governments in building strong financial oversight and regulatory infrastructure.
Narrative Change & Public Engagement
Shaping public understanding through narrative change, media outreach, and coalition-building.
Establishing Industry Standards
Setting industry best practices that ensure Tribal financial services are compliant, transparent, and sovereignty-driven.
Workforce Development
Building Native workforce pipelines through training, mentorship, and education.
