As with past economic development success in Indian country, our industry seems to be attracting the attention of regulators who assert jurisdiction even though our members’ enterprises are legal businesses that operate lawfully and voluntarily comply with federal consumer laws. Further, the federal government acknowledges a need for these products and is now suggesting that the United States Postal Service is the best way to offer these products to consumers. Tribal governments are often charged with educating non-tribal governments about our rights and jurisdiction. When tribal governments began to offer gaming as a means for economic development, various state governments tried to thwart our efforts in order to maintain their monopolies. Today, almost every state in the country has legalized commercial gaming. Tribal governments brought gaming into local communities and helped demonstrate that gaming is a legitimate means of economic development when it is well regulated and part of a larger employment and reinvestment strategy. Similarly, tribes today continue to experience scrutiny in our lending enterprises in spite of the fact that the Dodd-Frank Act equates tribes with states for regulatory purposes. In spite of this clear mandate, federal regulators continue to pressure our banking partners to cease doing business with us. That is why our tribal members were shocked by the recent announcement of new guidelines, released by the Treasury Department and a top Justice Department official, to allow banks to work more closely with legal, regulated, marijuana-related businesses.Get the Story:
Barry Brandon: An Agenda Banks on Weed (Indian Country Today 3/25)
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