Barry Brandon: Tribes turn to Internet payday loan industry

Barry Brandon, the executive director of the Native American Financial Services Association, explains why some tribes have entered the payday loan industry:
“Pain on the Reservation," highlighting the problems facing Indian country and the difficulty of solving them, correctly notes that many tribes cannot operate profitable casinos because they are not close to major population centers, deepening our pain as Congress forces austerity.

Many tribes are turning to the Internet, with online financial services emerging as a profitable alternative to gambling and a critical source of money to meet their shortfalls. These companies, which operate as an arm of the tribe, are supporting the essential services that many who live off the reservation take for granted.

Get the Story:
Barry Brandon: Native American Initiative (The New York Times 7/19)

Related Stories
Cheyenne River man's payday loan firm named in class action (7/16)
Minnesota sues payday lender linked to Cheyenne River man (7/12)

Join the Conversation