Consumer Protection

Building Trust: Consumer Protection in Native Communities (2011)

Was produced by First Nations Development Institute to explore the complex dynamics related to tribal consumer protection legislation and examines existing consumer protection and anti-predatory lending policies. This report highlights potential jurisdiction issues related to tribal consumer protection laws and calls for the implementation of consumer education systems. Access this report here.

Borrowed Time: Use of Refund Anticipation Loans among EITC Filers in Native Communities (2009) 

Was produced by First Nations Development Institute and the Center for Responsible Lending to examine the use of Refund Anticipation Loans (RALs) in Native communities. RALs can be extremely costly to the applicant where the average expense of the one- to two-week loan can be 50 to 500 percent APR, depending on the total fee and loan term. Access this report here.

Borrowing Trouble: Predatory Lending in Native American Communities (2008)

Is the result of a research study conducted by First Nations Development Institute and funded by the Anne E. Casey Foundation. The report details the practices of lenders targeting Native American communities with loan products that are often designed to exploit vulnerable borrowers who generally cannot afford to repay the loans. Access this report here.

Avoiding the Pitfalls of Refund Anticipation Loans (2009)

Was produced by the Children’s Defense Fund to present data on the importance of the Earned Income Tax Credit (EITC) to low-income families and the importance of avoiding the pitfalls of Rapid Anticipation Loans. According to data from the Internal Revenue Service (IRS), more than 22 million taxpayers received the EITC in the 2006 tax year but lost $3.1 billion to tax preparation fees, RALs and other commercial products. Access this report here.

Good Practices for Financial Consumer Protection

Access this report here.
Visit The World Bank Responsible Finance for more information and articles.