indianz.com your internet resource indianz.com on facebook indianz.com on twitter indianz.com on Google+
ph: 202 630 8439
Dynamic Homes
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:

Local Links:
Federal Register | Indian Gaming | Jobs & Notices | In The Hoop | Message Board
Latest News:
Native Sun News: Oglala Sioux Tribe to issue IDs at tournament (11/25)
James Giago Davies: Polygamy and shunning in Lakota culture (11/25)
Ben Shelly: There's a lot to be thankful for on the Navajo Nation (11/25)
Cara Cowan Watts: Share the blessings of the Cherokee Nation (11/25)
Joe Sexton: BIA's 'ugly' land policies stuck in the 19th century (11/25)
Jenny Durkan: Cop who killed Native man wasn't charged either (11/25)
Oklahoma claims Citizen Potawatomi Nation must collect taxes (11/25)
Divided court won't extend Seneca Nation immunity to business (11/25)
Vice: North Dakota tribe sees $25M a month in energy royalties (11/25)
Members of Lumbee Tribe proud to carry on tradition of service (11/25)
Flandreau Santee Sioux Tribe donates $10K to local food pantry (11/25)
Slate: Non-Indians were encouraged to move to tribal territory (11/25)
Column: Remains of Dakota man hanged in 1862 kept in home (11/25)
Family members plead guilty to thefts from reservation town (11/25)
Authorities investigate fatal crash involving Bad River officer (11/25)
Editorial: Yakama Nation must disclose plans for clean water (11/25)
Roy Burton: Montana tribe puts its people at risk with gaming (11/25)
Lawmaker asks BIA to wait on Cowlitz Tribe casino acquisition (11/25)
Gaming compacts on agenda for 2015 session in New Mexico (11/25)
Quapaw Tribe faces even more competition for Kansas casino (11/25)
Pala Band wins final approval for online gaming in New Jersey (11/25)
Mashantucket Tribe still thinking about Massachusetts casino (11/25)
Tim Giago: Cornflakes every Sunday at Indian boarding school (11/24)
Charles Trimble: A time to give thanks -- For whatever reason (11/24)
Mark Trahant: Incoming Alaska governor opens doors to tribes (11/24)
Native Sun News: Four from South Dakota win big at rodeo final (11/24)
Suzan Shown Harjo to receive Medal of Freedom at White House (11/24)
Bill John Baker: Take pride in Cherokee Nation accomplishments (11/24)
Bryan Brewer: Tribal communities need better Internet service (11/24)
Harold Monteau: Teach children about our positive tribal values (11/24)
Crystal Willcuts: Keystone XL Pipeline just makes the rich richer (11/24)
PBS: VAWA helps tribes go after non-Indian domestic offenders (11/24)
Sisseton Wahpeton Oyate in shock after shooting leaves 4 dead (11/24)
Complaint against Navajo Nation presidential hopeful dismissed (11/24)
Otoe-Missouria Tribe defends online loan business amid scrutiny (11/24)
Chippewa Cree Tribe swears in chairman more than a year later (11/24)
Florida Supreme Court declines Miccosukee child custody case (11/24)
Three arrested in fatal stabbing at Yankton Sioux tribal housing (11/24)
Mille Lacs Band grows economy with Oklahoma hotel purchase (11/24)
Editorial: BIA fails to resolve Cayuga Nation leadership dispute (11/24)
Former Choctaw Nation employee plans appeal in criminal case (11/24)
Faction of Chukchansi Tribe walks away from casino mediation (11/24)
Tribal casinos cancel Bill Cosby shows as allegations resurface (11/24)
Editorial: Poarch Creeks control their own destiny with gaming (11/24)
Editorial: Renew Class III gaming compact with Seminole Tribe (11/24)
Choctaw Nation releases statement after guilty verdict in case (11/21)
Former Choctaw Nation employee found guilty in criminal case (11/21)
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.