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
The University of Tulsa College of Law - Master's in Indian Law
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:
National Park Service finalizes rule for tribal gathering of plants (6/30)
Five tribes donate over $500K to Democratic party's convention (6/30)
Bureau of Indian Affairs still hoping to reach land-into-trust goal (6/30)
Port Gamble S'Klallam Tribe secures proclamation for 410 acres (6/30)
Seminole Tribe takes a big step forward with land-into-trust bid (6/30)
Tohono O'odham Nation signs health self-governance compact (6/30)
Native Sun News: Lakota and Cheyenne people join forces again (6/30)
Lakota Country Times: Paper continues to reach large audience (6/30)
Cronkite News: Senate committee takes on tribal water issues (6/30)
Dave Archambault: A day for all of Indian Country to remember (6/30)
Vi Waln: Don't let politics get in way of our children's education (6/30)
Leonard Peltier: My last best hope for freedom lies with Obama (6/30)
Shinnecock Nation weighs options to reclaim ancestral territory (6/30)
White Mountain Apache Tribe welcomes 'significant' discovery (6/30)
Confederated Salish and Kootenai Tribes press for water pact (6/30)
Mille Lacs Band slams county for ending law enforcement deal (6/30)
County might end Grand Traverse Band land-into-trust appeal (6/30)
Tlingit and Haida Tribes acquire government contracting firm (6/30)
Donald Trump approved Indian gaming attack ads in New York (6/30)
Judge focuses on Mashpee Wampanoag Tribe casino decision (6/30)
Eastern Cherokee youth push for change in gaming per capita (6/30)
Buena Vista Rancheria signs updated Class III casino compact (6/30)
Connecticut tribes still working on plan for potential new casino (6/30)
Effort builds for missing and murdered Native women and girls (6/29)
Native talent among diverse group asked to join film academy (6/29)
Richard Peterson: New era of tribal-state cooperation in Alaska (6/29)
Mark Trahant: A Native champion on the ballot in South Dakota (6/29)
Lakota Country Times: Outdoor movies a success at Pine Ridge (6/29)
Delphine Red Shirt: American history ignores tribal perspective (6/29)
Gabe Galanda: The growing chorus against tribal disenrollment (6/29)
Woman from Crow Tribe dies after brutal attack on reservation (6/29)
Man charged with murdering girlfriend on Fort Peck Reservation (6/29)
Nooksack Tribe fires elder who spoke out against disenrollment (6/29)
Mashpee Wampanoag Tribe gets ready for 95th annual powwow (6/29)
Citizen Potawatomi Nation members serve on city commission (6/29)
A Tribe Called Red goes to Alaska next month for Native benefit (6/29)
Sorry but DNA tests cannot confirm a person's Native ancestry (6/29)
Church denies connection to vandalism at Otomi site in Mexico (6/29)
Former Choctaw Nation casino worker gets two months for theft (6/29)
Tohono O'odham Nation shares $1.2M from controversial casino (6/29)
Grande Ronde Tribes consider hotel but not a casino at old track (6/29)
Meskwaki Tribe looks for fugitive reportedly seen at casino hotel (6/29)
Supreme Court puts an end to another tribal jurisdiction dispute (6/28)
Native women hail Supreme Court decision on domestic violence (6/28)
Navajo Nation leaders reflect on historic Supreme Court session (6/28)
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.