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CFPB Lending Tussle Echoes Early Days Of Tribal Gambling

Posted by on Feb 26, 2016 in News | 0 comments

As published on Law360 on February 26, 2016:  The Consumer Financial Protection Bureau’s plan to regulate tribal lenders and other providers of short-term, often-high-interest loans comes at a sensitive stage for tribes’ involvement in the industry, as their efforts to kick-start lending businesses under the wary eye of the federal government recall the days before tribal gambling took off.   As the CFPB plans its new rule on short-term, small-dollar lending, tribes are worried that the agency will wade into regulating their lending businesses without sufficient knowledge of Indian...

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CFPB Deputy Director to Congress: Tribal Online Installment Loans Easier To Repay Than Payday Loans

Posted by on Feb 16, 2016 in Press Release | 0 comments

WASHINGTON, DC (February 16, 2016) – In a strong show of support for the innovative consumer financial products offered by sovereign Native American tribes, CFPB Acting Deputy Director David Silberman’s recent testimony before the House Financial Services Committee acknowledged that tribal installment loans are easier to repay than two-week payday loans. When questioned about the impact the Bureau’s proposed “ability to repay” rule would have on consumers’ access to two-week payday loans, Silberman acknowledged that the impact is difficult to quantify. He then turned his attention...

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Native American Tribes to Congress: Respect Our Sovereignty

Posted by on Feb 11, 2016 in Press Release | 0 comments

WASHINGTON, DC (February 11, 2016) – Appearing today before a House Financial Services Committee hearing examining the treatment of Native Americans by the Consumer Financial Protection Bureau (CFPB), a key Native American leader urged Congress to once again stand shoulder-to-shoulder with Indian Country to help ensure the CFPB respects the historic government-to-government relationships of federal entities and sovereign tribes with any rule they produce on short-term lending. Sherry Treppa, Chairperson of the Habematolel Pomo of Upper Lake offered impassioned testimony on the struggles...

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Don Marlais Joins NAFSA as Assistant Executive Director and General Counsel

Posted by on Feb 10, 2016 in Press Release | 0 comments

The Native American Financial Services Association (NAFSA) today announced the addition of Don Marlais as Assistant Executive Director and General Counsel of NAFSA. “Don’s deep history of experience working at the intersection of public policy, law and politics will be a tremendous resource for NAFSA,” said Barry Brandon, Executive Director of NAFSA. "NAFSA and its members are fortunate to have a professional of Don’s caliber working with them to promote responsible access to credit and protect Native American sovereignty.”

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PR Newswire: Lac Vieux Desert Band of Lake Superior Chippewa Indians Bolsters Tribal Economic Development Portfolio with Purchase of Bellicose Capital, LLC

Posted by on Jan 27, 2016 in News | 0 comments

In a major deal that will bring millions of dollars in economic development to the Lac Vieux Desert Band of Lake Superior Chippewa Indians (LVD) and its geographically isolated reservation in Watersmeet, MI, LVD has today announced that it has completed the purchase of Bellicose Capital. Bellicose has been a valued service provider to the Tribe's lending business and talks to acquire Bellicose have been underway for several years.

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