Tribes have formed a new organization called the Native American Financial Services Association to protect their Internet payday loan businesses.

The organization was formed by the merger of the Native American Lending Alliance and the Native American Fair Commerce Coalition. Both groups have been advocating for tribes to conduct business online.

"In this time of unprecedented economic growth potential and increasing efforts to undermine tribal sovereign immunity, the formation of this group could not have come at a better time," Barry Brandon, the executive director of the new group, said in a press release. "We are focused on protecting our sovereignty and continuing to improve the quality of life for our people who have spent far too long suffering in some of the most impoverished areas of the country."

The tribal payday loan industry have come under fire in state courts across the country. Most recently, courts in California and Colorado have upheld the sovereign immunity of the tribal businesses.

Federal agencies are also looking into the industry although one Obama administration official said tribes aren't being singled out.

Get the Story:
Press Release: Tribal Nations Unite to Defend Sovereign Rights (NAFSA 6/27)

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