Small Business Administration (SBA) Notification: 7(a) Working Capital Pilot Program - On July 15, SBA published a notification of the pilot program and requested comments to provide SBA 7(a) guaranteed lines of credit up...more
On October 5, 2022, during the Tribal Consultation session in Washington, D.C., the Small Business Administration stated that it will not pursue its attempt to impose a Community Benefit Plan requirement on Alaska Native...more
Last week, the U.S. Department of the Treasury announced the availability of $500 million in funding through the Local Assistance and Tribal Consistency Fund (LATCF) for eligible tribal governments. The LATCF, which was...more
Isabella Casillas Guzman of the U.S. Small Business Administration (SBA) announced on December 15, 2021, that SBA’s Office of Native American Affairs awarded $1.1 million in grants and contracts to seven entities which will...more
On Wednesday, June 30, the Department of the Treasury announced it will open up the second phase of distributions to tribal governments from the $20 billion tribal portion of the State and Local Fiscal Recovery Fund. This...more
On July 15, 2020, the Federal Reserve Bank of Boston issued new guidance expressly permitting tribal businesses that are borrowers under the Main Street Lending Program (“MSLP”) to pay dividends to their tribal government...more
American Express Chair and CEO Kenneth Chenault announced that he’s stepping down next year after 16 years at the helm of AmEx. He’ll be succeeded by Vice Chair Stephen Squeri....more
Despite a stronger global economic outlook than we’ve seen in years, the world’s central bankers appear loath to let go of stimulus measures while lower-than-expected inflation bedevils them....more
On March 7, 2014, the United States District Court for the District of Nevada in Federal Trade Commission (the FTC) v. AMG Services, Inc., et al. granted a partial victory to Indian tribal payday lenders in their ongoing...more
On December 16, 2013, the Consumer Financial Protection Bureau filed suit against Cash Call, Inc., WS Funding, LLC, Delbert Services Corporation and J. Paul Reddam (collectively “Cash Call”), alleging that the extremely high...more
Native American tribes increasingly are engaging in consumer lending over the Internet. These “tribal loans” present unique legal questions and issues, including whether tribal sovereign immunity shields tribes and their...more