Native American tribes have suffered a history of staggering unemployment rates, limited opportunities, and a lack of access to fundamental resources. Tribes began financial services businesses to combat this history and create real change for the future. E-commerce has been a vehicle for supporting economic growth, tribal services, and tribal development.
The Latest Financial News
United States Senators Sherrod Brown (D-Ohio) and Josh Hawley (R-Mo.) sent a letter to Treasury Secretary Steven Mnuchin to push for Americans to receive the full relief payments provided by the CARES Act. The legislation provides relief for Americans’ basic needs,...
Former CFPB Director Cordray Publishes White Paper Pushing Agency to Proactively Help Consumers During Pandemic
Richard Cordray, who led the Consumer Financial Protection Bureau (CFPB) before leaving the agency to run for Ohio Governor in the 2018 election, recently published a White Paper urging the agency to act quickly in helping consumers during the coronavirus pandemic....
Five Senate Banking Democrats Press CFPB to Provide Relief to Consumers Facing Financial Harm During COVID Crisis
Earlier this week, in a letter to Consumer Financial Protection Bureau Director Kathleen Kraninger, Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) and Committee Members Brian Schatz (D-Hawaii), Chris Van Hollen (D-Md.), Elizabeth Warren (D-Mass.), and...
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.