The Latest Financial News
OCC Getting Closer to Decision on Proposed Charter for Fintech
For nearly a year and half, the Office of the Comptroller of the Currency has been exploring the possibility of extending a special purpose national bank charter to fintech companies like online lenders. During a press call on May 24, Comptroller of the...
Fintech Online Lenders Respond to Rising Defaults by Tightening Underwriting Standards
Several years of positive growth have been good for investors in fintech lending companies like Social Finance (SoFi), LendingClub, Prosper, and Avant. But after a wave of defaults across these platforms, investors have gotten spooked, and the firms are...
NCUA Proposes Changing Lending Rule to Allow Federal Credit Unions to Offer Payday Alternative Loans
In a proposed rule issued last week by the National Credit Union Administration (NCUA) Board, federal credit union members could have more options for short-term, small-dollar borrowing. This comes on the heels of a bulletin issued last week by the Office...
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
