NAFSA is a national trade association formed to advocate for tribal sovereignty, promote responsible financial services, and provide better economic opportunity in Indian Country for the benefit of tribal communities. 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. By a vote of 50-48 yesterday evening, Rohit Chopra was confirmed by the U.S. Senate to serve as Director of the Consumer Financial Protection Bureau (CFPB) for a five-year term.
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. By a vote of 50-48 yesterday evening, Rohit Chopra was confirmed by the U.S. Senate to serve as Director of the Consumer Financial Protection Bureau (CFPB) for a five-year term.
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Based in Washington D.C., the Native American Financial Services Association (NAFSA) is a 501(c)6 trade association that was formed in 2012 to provide better economic opportunity in Indian Country. To improve the welfare of sovereign nations through new e-commerce business and employment opportunities in the financial services industry, NAFSA promotes and provides transparency, value, and advocacy.
NAFSA is a 501(C)(6) registered trade association in Washington D.C. that represents the interests of Tribal governments and tribally-owned or tribally-serving businesses engaged in the financial services sector. NAFSA advocates for tribal sovereignty, the protection of consumer rights, and provides vital services to our members that further economic development opportunities in Indian Country.
John R. Shotton is the current Chairman of the Native American Financial Services Association and is also the Chairman of the Otoe-Missouria Tribe of Indians. Prior to being elected to the office of Chairman, he served on the Tribal Council as the First Member for two years. Chairman Shotton is a member of the Owl Clan and belongs to the Otoe Eloska Society as well as the Red Rock Creek Gourd Dancers.
Tribal online lending provides a critical economic lifeline for sovereign tribes in remote areas, whether or not they engage in tribal government gaming. While many out-of-the-way tribal communities have developed gaming facilities as a way to create jobs and generate essential government revenues, remote reservations and gaming properties have been more severely impacted by the economic downturn.
The short-term installment loan products offered by NAFSA members' TLEs are not payday loans; they are installment loans. NAFSA members never engage in abusive collection practices or in any way disrespect or disregard the rights of our customers. Unlike payday loans, installment loans are amortized, have a definite loan term and require payments that go toward not just interest, but pay down of loan principal.
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