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
Indian Law Online Master Degree - University of Tulsa College of 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:
Cheyenne River Sioux Tribe finally starts work on movie theater (8/3)
Morongo Band awards $40K in scholarships to Native students (8/3)
Native Sun News: Indian lawmakers achieve goals in Montana (8/3)
Lakota Country Times: Skate competition grows at Pine Ridge (8/3)
Mark Trahant: Appoint tribal delegates to serve in US Congress (8/3)
Delphine Red Shirt: Restore Black Hills peak to its rightful name (8/3)
Dana Lone Elk: Lakota grandmothers hold our society together (8/3)
Steve Russell: The Great White Lion Hunter kills only for thrills (8/3)
Terese Marie Mailhot: Native people endure delays for justice (8/3)
Sarah Deer: Ending the cold war over land-into-trust in Alaska (8/3)
Steven Newcomb: High court still relying on Christian doctrine (8/3)
Navajo Nation couple weighs court challenge to marriage law (8/3)
Isleta Pueblo celebrates milestone in tribal education system (8/3)
Chemehuevi Tribe accuses law enforcement of racial profiling (8/3)
Alaska Natives deal with toxic legacy in poisoned food supply (8/3)
Mille Lacs Band halts walleye harvest amid declining numbers (8/3)
Choctaw Nation police officer helps arrest suspects in murder (8/3)
Florida court dissolves injunction in Indian online lender case (8/3)
Arizona cites immunity in Tohono O'odham Nation casino case (8/3)
Fond du Lac Band wants to resolve long-running gaming fight (8/3)
Snoqualmie Tribe hires new chief operating officer for casino (8/3)
Editorial: Seminole Tribe is a good gaming partner for Florida (8/3)
Editorial: Something's gotta give in New England casino race (8/3)
Muscogee Nation activist dangled from bridge to stop oil ship (7/31)
Native Sun News: Rapid City mayor denies claim of retaliation (7/31)
Ernestine Chasing Hawk: Rapid City mayor's year of retaliation (7/31)
Brandon Ecoffey: Rapid City continues with tradition of racism (7/31)
Clara Caufield: Northern Cheyenne Tribe leaves people in dark (7/31)
Lakota Country Times: Group seeks to boost Pine Ridge tourism (7/31)
Federal murder charges laid for shooting on Crow Reservation (7/31)
Alex White Plume asks court for permission to plant hemp crop (7/31)
Isleta Pueblo welcomes Secretary Sally Jewell for school event (7/31)
Tribes caught off-guard with mandate from Affordable Care Act (7/31)
Commerce Blog: Secretary Pritzker meets with tribes and youth (7/31)
Tribes in Pacific Northwest 'very worried' about future of salmon (7/31)
Alaska to recognize tribal domestic violence protection orders (7/31)
Moapa Band enters $4.3M settlement for power plant pollution (7/31)
Senate Ad-Hoc Committee on Indian Affairs holds first meeting (7/31)
Donald Trump not shy with invoking race when it comes to tribes (7/31)
Aquinnah Wampanoag Tribe sees big future with Class II casino (7/31)
Catawba Nation still waiting for answer on casino land-into-trust (7/31)
Last defendant sentenced in theft case at Yakama Nation casino (7/31)
Senate committee examines costs of substance abuse on tribes (7/30)
Senate Indian Affairs Committee delays vote on land-into-trust (7/30)
BIA allows two more New Mexico gaming deals to go into effect (7/30)
Former workers at Choctaw Nation casino plead guilty to theft (7/30)
Inmate charged with murdering Mississippi Choctaw man in jail (7/30)
Native Sun News: Keystone XL Pipeline protest draws big crowd (7/30)
James Giago Davies: Don't judge anyone's depth of Lakotaness (7/30)
Tara Houska: DC rally puts focus on threats to sacred Oak Flat (7/30)
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.