News

Choking Off Native American Economic Development

Posted by on Apr 22, 2015 in News | 0 comments

This article original appeared in Law 360. Law360, New York (April 10, 2015, 10:18 AM ET)– William M. Isaac I was intrigued when I first heard of a government program called Operation Choke Point and the concept behind it. According to the federal government, the operation was intended to keep illegal or fraudulent entities out of our banking system —– an important mission that could help protect consumers and businesses alike. Unfortunately, multiple congressional investigative reports have revealed that Operation Choke Point has not been used primarily for this purpose....

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Press Release: Official Statement in Response to Comments by Elected Officials in Connecticut

Posted by on Apr 15, 2015 in News, Press Release | 0 comments

Statement by Lance Gumbs, Executive Director of the Native American Financial Services Association (NAFSA), in response to comments made by elected officials in the State of Connecticut:   “The Native American e-commerce lending businesses which are members of NAFSA are legal, licensed, and regulated businesses that follow all applicable federal laws and operate under sovereign tribal law.   I want to be clear that NAFSA absolutely and unequivocally opposes any attempt by a state government to encroach on a federally-recognized tribe’s sovereign right to operate these businesses...

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NAFSA Launches New Statewide Advertising Campaign in Connecticut: “Brighter Future”

Posted by on Mar 27, 2015 in News, Press Release | 0 comments

On March 13, the Native American Financial Services Association (NAFSA) debuted its newest paid media campaign, “Brighter Future,” in the Hartford Courant, Hartford Business Journal, and online. The ad, featuring a mother and her young daughter, highlights the role NAFSA plays in ushering lasting economic independence to Indian Country. “We created this ad to raise awareness in the general public about the economic opportunity NAFSA provides to federally recognized tribes,” explained NAFSA Executive Director, Lance Gumbs. NAFSA’s tribal lending entities offer responsible financial...

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NAFSA Executive Director Lance A. Gumbs Awarded the National Center for American Indian Enterprise Development’s “Advocate of the Year” Award

Posted by on Mar 23, 2015 in News | 0 comments

On Tuesday, March 10, the National Center for American Indian Enterprise Development honored NAFSA Executive Director Lance A. Gumbs with the “Tim Wapato Public Advocate of the Year” award. The award’s namesake, Tim Wapato, lived his life fighting for the rights of the people of Indian Country and working to improve the economic opportunities available to his people. The award, presented at the 29th Annual National Reservation Economic Summit (National RES) in Las Vegas, recognized Mr. Gumbs’ life accomplishments as a tribal leader and his work advocating on behalf of Indian...

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Washington Post: Tribal Lending Helps Consumers

Posted by on Mar 6, 2015 in News | 0 comments

This article originally appeared in The Washington Post. The March 2 front-page article “Tribes’ bet on high-interest lending comes with uneasy feelings” omitted the fact that tribally owned businesses are regulated, geared toward customer satisfaction and take aggressive measures for consumer protection.   Under tribal law, the Tribal Financial Services Regulatory Authority (TFSRA), an independent body that went unmentioned in the story, regulates our business. We’re proud that 92 percent of our customers express satisfaction and would use our services again. Tribal law allows...

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The Blaze: Native Americans Say Obama Program Is Hurting Their Businesses and Is an Affront to Tribal Sovereignty

Posted by on Jan 14, 2015 in News | 0 comments

A Native American group contends a controversial Obama administration program is harming online businesses that are critical to funding tribal governments, and at the same time violating tribal sovereignty. Operation Choke Point is run through the Department of Justice and the Federal Deposit Insurance Corporation and targets how banks handle accounts with certain industries the agencies consider high-risk, including the gun industry, payday or short-term lenders, porn shops, casinos, coin dealers, check cashers and debt collectors.

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