Tribe Payday Loans- The Native American Financial Services Association (NAFSA) Fed’s Continued Commitment

We discuss the entrance of Native American Tribe lending  in regards to payday loan, car title and other microlending niches often. Thanks to Allen Parker at Consultants4Tribes.com for bringing this important news to our attention:

WASHINGTON (September 25, 2012) – The Native American Financial Services Association (NAFSA) today applauded the Senate Committee on Indian Affairs’ continuing commitment to the enduring strength of federal-tribal relations.

During the hearing on Thursday, September 20, 2012, the Senate Committee on Indian Affairs made it clear that the tribes have the undisputed right of self-governance and self-determination. Indeed, testimony throughout this hearing repeatedly reinforced the principle that self-governance and self-determination are fundamental components of Native American culture and vital elements of every Native American community across the country.

Read the entire piece here: Allen Parker

Through the protection of consumer rights and sovereign immunity, NAFSA provides vital services to tribally operated lenders serving the under-banked with better short term financial services, furthering economic development opportunities in Indian Country.

Comments ( 2 )
  • francine W says:

    I’m in Southern California. I’m seeing some very attractive “money centers” opening up here. Gotta be by some very optimistic “players” in our industry.

  • Suki says:

    This kind of thing has got to drive rates for consumers down? Plus, cities in Texas are regulating payday loan stores. Georgia, Arizona and others are “black.” It’s a losing battle for the consumer advocates who won’t loan $300 to our customer and the state regulators must eventually give up and let us in.

    Just like marijuana :o)