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May 31, 2016

CFPB to Hold Field Hearing on Small Dollar Lending on June 2nd!

"Access to Capital and Credit in Native Communities" Report Released

Toolkits, Resources, News & Events

CFPB to Hold Field Hearing on Small Dollar Lending on June 2nd!

Join the Consumer Financial Protection Bureau (CFPB) for a field hearing in Kansas City, Missouri, about small dollar lending. The hearing will take place on Thursday, June 2nd at 10 a.m. CDT. The event will take place at: 

Kansas City Convention Center; Municipal Auditorium Complex

Music Hall

301 West 13th Street

Kansas City, MO 64105

The hearing will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public.

For more information, click here.

"Access to Capital and Credit in Native Communities" Report Released

A new independent report on access to capital and credit in American Indian, Alaska Native, and Native Hawaiian communities (Native Communities) was released today by the Native Nations Institute. The Access to Capital and Credit in Native Communities Report (the Report), commissioned by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund), examines recent successes in the effort to improve access to capital and credit in Native Communities as well as what can be done to build on that success. The CDFI Fund commissioned the Report as a follow-up to its 2001 Native American Lending Study, which analyzed access to capital and financial services in Native Communities, identified barriers to access, and provided options to address the barriers.

“The lack of access to capital and credit has been a significant constraint on economic development in Native Communities,” said Annie Donovan, Director of the CDFI Fund. “While the Native American Lending Study focused on status of and barriers to accessing capital, the Access to Capital and Credit in Native Communities Report focuses on what has changed over the last 15 years, and on what opportunities exist to increase the provision of financial services and access to capital in Native Communities.”

One of the successes examined in the Report is the critical role of Community Development Financial Institutions that serve Native Communities (Native CDFIs), and how, thanks to the growth and reach of Native CDFIs, many Native Community residents who want to buy a home, start a business, or take control of their finances have better options today than they did when the CDFI Fund first examined the issue in 2001. It also discusses the role of the CDFI Fund’s programs for Native CDFIs, which have been a critical source of technical assistance and training in addition to capital.

To view the report, click here.

Toolkits, Resources, News & Events 

OPPORTUNITY DEADLINE (TIME SENSITIVE): Tribes Can Apply for $56M in Community Development Funds (June 14th) 

OPPORTUNITY DEADLINE (TIME SENSITIVE): Application Process, Eligibility Announced for $38M Keepseagle Grants Distribution (June 24th) 

OPPORTUNITY DEADLINE (TIME SENSITIVE): EDA Announces $15M to Advance Innovation Across America (June 24th) 

RESOURCE: Building Native Communities: Financial Skills for Families (Fifth Edition of Curriculum Released) (First Nations Development Institute and First Nations Oweesta Corporation) 

RESOURCE: The Prosperity Agenda: Research & Findings 

REPORT: Online Payday Loan Payments (Consumer Financial Protection Bureau) 

REPORT: Payday and Car Title Lenders Drain $8 Billion in Fees Every Year (Center for Responsible Lending) 

WORKING PAPER: Boosting the Power of Youth Paychecks: Integrating Financial Capability into Youth Employment Programs (Community Development Investment Center) 

NEWS: Lakota Federal Credit Union Expands Services on Rolling Rez Bus

NEWS: Credit Scores & Indians: Recent Evidence on the Prevalence of Low Scores & Borrowing

NEWS: Not All Money Troubles Are Created Equal

EVENT: 2016 Oklahoma Native Assets Coalition (ONAC) Conference (Oklahoma Native Assets Coalition) (July 12th, Oklahoma City, OK) 

EVENT: Free Workshop! Journey into Entrepreneurship (Northwest Native Development Fund) (July 12th & 13th, Wellpinit, WA)
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