NAFSA Statement on Richard Cordray's Confirmation as Director of Consumer Financial Protection Bureau

WASHINGTON, July 17, 2013 /PRNewswire-USNewswire/ -- Following Tuesday's Senate vote to confirm Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB), Barry Brandon, Executive Director of the Native American Financial Services Association (NAFSA) issued the following statement:

"As the newly-confirmed Director Cordray officially takes the helm of the Consumer Financial Protection Bureau (CFPB), the Native American Financial Services Association is hopeful his door will remain open to us and the tribes we represent.

"Our members provide necessary financial services to people who need short-term access to credit. All of them adhere to the strictest industry standards and best practices.  They also interact with the CFPB as they do with all federal agencies – within the unique government-to-government relationship between the United States and tribal nations.

"President Obama recently announced the formation of a new White House Council on Native
American Affairs which strengthens the federal government's long-time commitment to upholding and respecting the inherent sovereignty of Native American nations.  We hope the CFPB will partner with us in our efforts to protect the customers we serve while acknowledging and respecting our sovereignty."

The Native American Financial Services Association (NAFSA) formed in 2012 to advocate for Native American sovereign rights and enable tribes to offer responsible online lending products.  Through the protection of consumer rights and sovereign immunity, NAFSA provides vital services to tribally operated lenders serving the under-banked with better short term financial services, furthering economic development opportunities in Indian Country.

SOURCE Native American Financial Services Association

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