The Latest Financial News
Trade Groups Challenge CFPB Credit Card Rule in Court, CFPB Accuses Them of “Forum Shopping” for Favorable Judge
At the beginning of March, the Consumer Financial Protection Bureau (CFPB) finalized its rule cutting the typical credit card late free from $32 to $8. Two days after the finalized rule was announced, a lawsuit led by the U.S. Chamber of Commerce, Fort Worth Chamber...
Michigan Senate Passes 36% Rate Cap on Payday Loans
After Michigan’s Board of State Canvassers declined to certify a ballot initiative proposal to cap interest and fees on payday loans in 2022, the Michigan State Senate last week passed legislation that would cap payday loan APRs at 36% if it the measure were to become...
New Report Finds Half of Loan Applicants Have Been Denied Since Fed Rate Increases Began Two Years Ago
According to a new Bankrate report, half of applicants have been turned down for a loan or financial product since the Federal Reserve began raising interest rates in March of 2022. 17 percent of applicants have been denied multiple times. “One of the ways higher...
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
