your internet resource on facebook on twitter on Google+ on soundcloud
phone: 202 630 8439
Fredericks Peebles & Morgan LLP
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:
White House blasts Native American Energy Act ahead of vote (10/8)
House Natural Resources Committee approves two Indian bills (10/8)
First Nations Development Institute awards $250K for ranching (10/8)
Four Native chefs participate in unique food event in New Mexico (10/8)
Native Sun News: Lone Indian voice opposes mountain lion hunt (10/8)
Lakota Country Times: Wind power comes to Rosebud community (10/8)
Delphine Red Shirt: Scandal shuts down program for Indian youth (10/8)
Vince Two Eagles: Native medicine goes back thousands of years (10/8)
Jay Daniels: Indian lands still face threat from state governments (10/8)
Steven Newcomb: Religious doctrine guides Indian law and policy (10/8)
Brian Pierson: Recent federal court decisions affecting Indian law (10/8)
Choctaw Nation and Chickasaw Nation celebrate trust settlement (10/8)
Actor joked about taking tribal artifacts from ranch in New Mexico (10/8)
Tuolumne Band of Me-Wuk Indians gives $100K for cancer center (10/8)
Radio station brings news and more to Yankton Sioux Reservation (10/8)
Indian gaming industry grew 116 percent between 2001 and 2013 (10/8)
Arizona tribes on road to recovery with $1.81B in casino revenues (10/8)
Pojoaque Pueblo secures injunction in New Mexico casino dispute (10/8)
Little River Band sees off-reservation casino as boost for revenue (10/8)
Pioneering tribes share experiences with prosecuting non-Indians (10/7)
Senate Committee on Indian Affairs approves two bills at meeting (10/7)
Congress approves land-into-trust bill for Pueblos in New Mexico (10/7)
House Natural Resources Committee holds markup on Indian bills (10/7)
Native Sun News: Rival teams meet on football field at Pine Ridge (10/7)
Lakota Country Times: Tribes receive $940M in Ramah settlement (10/7)
James Giago Davies: Embrace distance running in Indian Country (10/7)
Brandon Ecoffey: Powerful forces aim to keep out the Native vote (10/7)
Thomas Perez: Youth on Wind River Reservation share high hopes (10/7)
Stephen Corry: Native people displaced for sake of 'conservation' (10/7)
States oppose tribal jurisdiction in upcoming Supreme Court case (10/7)
Cheyenne River Sioux Tribe challenges Indian education reforms (10/7)
Two indicted for death of Seminole Nation man who went missing (10/7)
Saginaw Chippewa Tribe donates bottled water for city residents (10/7)
Mohegan Tribe swears in four council members following election (10/7)
Tribes in Amazon rainforest defend homeland from illegal loggers (10/7)
Chukchansi Tribe accused of illegal vote and casino preparations (10/7)
Mashpee Wampanoag Tribe suspends gaming official after arrest (10/7)
Tribes to share in Keno revenues under new deal with Connecticut (10/7)
Seminole Tribe remains in talks for new Class III gaming compact (10/7)
Controversy stirs as House takes up Native American Energy Act (10/6)
Native Sun News: Crow Tribe leader advises Rep. Zinke on energy (10/6)
Lakota Country Times: Program for Native students closes down (10/6)
Mark Trahant: Far too many missing and murdered Native women (10/6)
Alfred Walking Bull: Let's open up about suicide in Indian Country (10/6)
Raina Thiele: Alaska Natives share culture with President Obama (10/6)
Mary Pember: Fashion show tackles trafficking in Indian Country (10/6)
Torivio Fodder: Pope Francis ignores sins of Indian mission era (10/6)
Sac and Fox Nation disappointed by denial of Jim Thorpe case (10/6)
Flandreau Santee Sioux Tribe expects big crowd for pot kickoff (10/6)
Colville Tribes pass resolution for small amounts of marijuana (10/6)
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.