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
According to the American Bankers Association’s Credit Conditions Index for Q3 2022, released last week, bank economists expect credit market conditions to deteriorate over the second six months of 2022. The Credit Conditions Index is derived from the quarterly...
Earlier this month, a campaign dedicated to capping annual interest rates on loans at 36 percent in the state of Michigan announced it had collected more than 575,000 signatures and submitted 405,625 to the Michigan Secretary of State, which it hopes will eclipse the...
Report Finds 61% of U.S. Consumers, Including 36% of Consumers Earning More than $250k Annually, Living Paycheck-to-Paycheck
A report produced through a collaboration with PYMNTS and LendingClub and released earlier this month found that a growing number of consumers in all income brackets, including those making more than $250,000 per year, are now living paycheck-to-paycheck. The report,...
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.