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Finance

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PENDLETON, Ore. — Dave Tovey never quite grasped an economic lesson from one of his longtime mentors until recently in his career when he began to head up a Native community development financial institution for his tribe.

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WASHINGTON — The U.S. House Ways and Means Committee is in the process of deciding whether to include less restrictive tax-exempt financing opportunities for Indian Country in the $3.5 trillion infrastructure budget reconciliation now under consideration in Congress.

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A group of Indigenous-focused policy and legal advocates is taking steps to ensure that the U.S. Securities and Exchange Commission is responsive to tribal human and land rights whenever the agency makes disclosures to investors. 

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Indian Country seems like a slam dunk for the New Markets Tax Credit, a program implemented by the Treasury Department to boost investment in economic development and infrastructure in distressed and underserved communities. But just one Native-led organization received an award for an allocation of these tax credits this year, and the sector got nothing for the three years before that.

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For the first time in the six-year history of the Wisconsin Indian Business Alliance, the coalition of four Native community development financial institutions will have a new chair. 

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WASHINGTON — A new equity program originated by the FDIC could be a game-changer for Native American-owned banks, but the devil is in the details whether the investment will be a good deal for those financial institutions.

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With some tribes getting millions and even hundreds of millions of dollars as a result of recent pandemic-related funding, the matter of direct per capita payments to tribal members and how tribes are managing them have emerged as major issues.

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BRENTWOOD, Tenn. — A Tennessee venture capital firm wants to begin doing deals in Indian Country and provide early-stage funding to Native American founders behind startup companies.

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WASHINGTON — A new federal initiative aims to invest $100 million to help Indigenous communities economically recover from the COVID-19 pandemic. 

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WASHINGTON — Native community development financial institutions received a $54.6 million funding boost yesterday as part of the U.S. Department of the Treasury’s CDFI Rapid Response Program.