The Latest Financial News
Supreme Court Vacates and Remands Washington Supreme Court Decision in Upper Skagit Indian Tribe v. Lundgren, Marking a Victory for Sovereign Immunity
On Monday, the United States Supreme Court ruled 7-2 with tribal interests in the Upper Skagit Indian Tribe v. Lundgren case, giving the Tribe a procedural victory by vacating and remanding the Supreme Court of Washington’s earlier decision in the case....
FDIC Quarterly Banking Profile: Banking Industry Sees Net Income Rise More Than 27 Percent Post Tax Law
At the start of 2018, bank earnings are up 27.5 percent over the previous year, rising to $56 billion. The massive quarterly haul was driven in large part by higher operating revenue and a corporate tax rate that was lowered this year from 35 percent to 21...
This week, Ann Kossachev, on behalf of the National Association of Federally-Insured Credit Unions, sent a letter to the Consumer Financial Protection Bureau outlining suggested changes to the Bureau’s enforcement processes. The letter came in response to...
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.