indianz.com your internet resource indianz.com on facebook indianz.com on twitter indianz.com on Google+ indianz.com on soundcloud
phone: 202 630 8439
Kill The Tobacco Master Settlement Agreement
Advertise on Indianz.Com
Home > News > Headlines
Print   Subscribe
Fort Belknap Tribes depend on revenue from Internet lending

Filed Under: Business | Law | National
More on: fort belknap, internet, montana, payday loans
     


The office of American Web Loans in Red Rock, Oklahoma, owned by the Otoe-Missouria Tribe. Photo by Jane Daughtery.

The Fort Belknap Indian Community in Montana operates 11 Internet lending websites, The Wall Street Journal reports.

The lending operation employs 70 people on the reservation. Revenues from the website make up 20 percent of the tribe's income, the Journal said.

"You have generations of family here who have never known what it was like to get up and go to work," Michelle Fox, a tribal member who helped start the operation, told the paper. "For us right now, it's the difference between survival and non-survival."

The operation, however, faces intense scrutiny from state and federal officials. The tribe's bank, Wells Fargo, cut ties and its payment processor had to stop working with another bank that reached a settlement with the Obama administration.

Fox said revenues have fallen 40 percent as a result.

Get the Story:
Tribes' Online Lending Faces Federal Squeeze (The Wall Street Journal 7/24)

Related Stories:
Barry Brandon: Media gets it wrong yet again on tribal lenders (07/10)
Native Sun News: Payday loan story stirs squabble at Pine Ridge (07/07)
Law Article: Supreme Court decision could impact tribal lenders (07/03)
Al Jazeera: Tribes face scrutiny for Internet lending operations (06/17)
Lawyers dispute effect of Supreme Court case on tribal lenders (06/10)
Group claims Supreme Court ruling affects tribal payday lenders (05/30)


Copyright © Indianz.Com
More headlines...
Stay Connected:
On Facebook

On Twitter

On Google+

On SoundCloud
Local Links:
Federal Register | Indian Gaming | Jobs & Notices | In The Hoop | Message Board
Latest News:
Court reluctantly backs NLRB in Saginaw Chippewa Tribe dispute (7/1)
Native Sun News: Opposition grows to delisting of grizzly bears (7/1)
Lakota Country Times: Reservation counties rank as deadliest (7/1)
Harlan McKosato: Indian people survive despite mistreatment (7/1)
Marshall Matz: Fight for $380M in Keepseagle funds continues (7/1)
BIA acquires former military site in trust for Ho-Chunk Nation (7/1)
Appropriations bill adds $10M for tribal courts in PL280 states (7/1)
South Dakota board won't back name change for sacred peak (7/1)
Hoopa Valley Tribe orders water restrictions as tanks run dry (7/1)
Cherokee Nation certifies results of election for top positions (7/1)
Secretary Sally Jewell reaffirms opposition to racist mascots (7/1)
Virginia tribes hindered by racist policies created by one man (7/1)
Pojoaque Pueblo keeps casino open after gaming deal expires (7/1)
Court allows lawsuit for incident at Tonto Apache Tribe casino (7/1)
Navajo Nation Council approves bill to share gaming revenue (7/1)
Soboba Band celebrates 20th anniversary for gaming facility (7/1)
BIA adopts new policy regarding federal recognition process (6/30)
Supreme Court agrees to resolve another Indian law dispute (6/30)
Patrick Murphy: Star Trek's William Shatner visits Navajoland (6/30)
Yvette Roubideaux: Making progress at Indian Health Service (6/30)
Native Sun News: Wambli Ska group shares culture with youth (6/30)
Lakota Country Times: Oglala Sioux leader pushes zeolite mine (6/30)
Native Sun News: BLM to update plan for land near Bear Butte (6/30)
Alex Jacobs: Fake Indians damage the real Indian community (6/30)
Sarah Sunshine Manning: Even toys carry harmful messages (6/30)
Ponca Tribe sends twelve youth to White House conference (6/30)
Lobbyists met at White House to discuss federal recognition (6/30)
Alaska Native man finally out on parole in 1997 homicide case (6/30)
Gyasi Ross gets nod for 'Marlon Brando' single off new release (6/30)
Washington governor supports repatriation of Kennewick Man (6/30)
Morongo Band interested in acquiring Colt gun manufacturer (6/30)
Gila River Indian Community files suit to protect sacred place (6/30)
Lac Du Flambeau Band man sentenced for abusing young girls (6/30)
Sault Tribe protected by sovereign immunity in casino dispute (6/30)
Pojoaque Pueblo at critical juncture with Class III gaming deal (6/30)
BIA releases scoping report for Coquille Tribe's Class II facility (6/30)
Local leaders talk Tohono O'odham Nation casino controversy (6/30)
Editorial: Extend Class III casino compact with Seminole Tribe (6/30)
Rep. McCollum vows support for Tribal Labor Sovereignty Act (6/29)
BIA issues long-awaited update to federal recognition process (6/29)
Native Sun News: Tribal youth share traditions and technology (6/29)
Lakota Country Times: Treaty council slams mine at Pine Ridge (6/29)
Mark Trahant: Action plan needed for health in Indian Country (6/29)
Mary Annette Pember: Sharing stories from boarding schools (6/29)
Terese Marie Mailhot: Let Native people speak our own voices (6/29)
Dina Gilio-Whitaker: Race frauds are not new in Indian Country (6/29)
Bryan Terry: Honor Sequoyah with statue at Tennessee capitol (6/29)
Steven Newcomb: Indian law and policy based on domination (6/29)
National Congress of American Indians gathers in Minnesota (6/29)
Indian farmers rally over $380M in unspent Keepseagle funds (6/29)
Bill John Baker wins re-election as leader of Cherokee Nation (6/29)
Self-described Cherokee artist charged for misrepresentation (6/29)
Jemez Pueblo gets another shot in aboriginal territory dispute (6/29)
Alaska's largest tribe boycotts FedEx over ties to racist mascot (6/29)
Woman sentenced to prison for biting BIA officer in North Dakota (6/29)
Crow Creek Sioux man sentenced for assaults in domestic cases (6/29)
Spokane Tribe partners with Hard Rock for off-reservation casino (6/29)
Pechanga Band comes in first in USA Today's best casino survey (6/29)
Eastern Shoshone Tribe secures grant to update casino security (6/29)
Connecticut tribes welcome delay in commercial casino project (6/29)
Supreme Court considers petition in contract support cost case (6/26)
Congress clears bill to help Miami Nation with outdated charter (6/26)
Senate passes measure to transfer land to Native health group (6/26)
Senate appropriations bill shields tribes from BLM fracking rule (6/26)
Native Sun News: Project brings economic hope to Pine Ridge (6/26)
Lakota Country Times: Few answers about mine on Pine Ridge (6/26)
Michael Connor: Making informed decisions for land buy-back (6/26)
more headlines...

Home | Arts & Entertainment | Business | Canada | Cobell Lawsuit | Education | Environment | Federal Recognition | Federal Register | Forum | Health | Humor | Indian Gaming | Indian Trust | Jack Abramoff Scandal | Jobs & Notices | Law | National | News | Opinion | Politics | Sports | Technology | World

Indianz.Com Terms of Service | Indianz.Com Privacy Policy
About Indianz.Com | Advertise on Indianz.Com

Indianz.Com is a product of Noble Savage Media, LLC and Ho-Chunk, Inc.