June 27: 5 Things You Need to Know This Week

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Photo of the Week: ICYM – President Biden names the first Native American Treasurer of the United States. Congratulations to Mohegan Tribe Lifetime Chief Lynn Malerba! Here’s Chief Malerba attending the 2019 Fall NAFOA Conference.

1. NAFOA INSTITUTE: WEBINAR: HOW TO READ & UNDERSTAND AN ANNUAL REPORT

 Join NAFOA for a professional development webinar, “How to Read & Understand an Annual Report” on Thursday, June 30th at 3:00 pm Eastern Time. The webinar is free with registration. 

Accounting and finance are supposed to be the international language of business. If so, then why do we struggle so much to make sense of the numbers? Are we so busy managing our business and leading our staff that we don’t have time to wade through the financials, discover the trends, draw proper conclusions and take appropriate action? What if our peers, or worse, our competition understands our numbers better than we do?

In this session, Miles Hutchinson, an experienced accounting and finance expert and business adviser, will explain how to quickly introduce you to the financial reporting of public and private companies!


2. FOR TRIBES: CRA MODERNIZATION AND INDIAN COUNTRY: BANKING AGENCIES SEEK FEEDBACK ON NEW RULEMAKING PROPOSAL

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have released a Notice of Proposed Rulemaking (NPR) to strengthen and modernize the regulations implementing the Community Reinvestment Act (CRA). The proposal updates how CRA activities qualify for consideration, where CRA activities are considered, and how CRA activities are evaluated. It seeks to address the significant changes in the banking industry since the last substantive CRA updates in 1995 and 2005.

The proposal includes provisions that are tailored to the unique needs of Native communities. These provisions reflect feedback that stakeholders provided in engagement meetings and roundtables convened by staff from across the Federal Reserve System, including staff from the Center for Indian Country Development, and in comment letters submitted in response to prior agency proposals. To ensure that the CRA-modernization process continues to reflect stakeholder needs, the three banking agencies now seek additional feedback on a number of points, including the following issues affecting Indian Country.

From: Federal Reserve Bank Of Minneapolis


3. PERSONAL FINANCE: CFPB HELPS SURVIVORS MITIGATE THE FINANCIAL CONSEQUENCES OF HUMAN TRAFFICKING

The Consumer Financial Protection Bureau (CFPB) issued a final rule to help survivors avoid some of the financial consequences of human trafficking. The CFPB has established, among other things, a method for survivors of trafficking to submit documentation to credit reporting companies that identifies any adverse item of information that resulted from human trafficking. The rule prohibits credit reporting companies from providing a report containing the adverse items of information.

“Too many survivors of human trafficking find their financial lives in tatters with few places to turn to for help,” said CFPB Director Rohit Chopra. “The new rule will help clear credit reporting roadblocks that survivors face as they rebuild their lives.”

Survivors often find that their credit reports reflect financial obligations and negative information that were the result of the financial abuse they endured, while being trafficked. Survivors and support organizations report that traffickers employ financial abuse as both a source of income and a method of control. After destroying their victims’ credit history and racking up charges in their names, traffickers know their victims will be unable to find affordable housing, become employed, or access credit on fair terms for purchases such as buying a car.


4. COMMUNITY: HAUDENOSAUNEE NATIONALS ROAD TO THE OLYMPICS

The Iroquois Nationals Development Group (INDG) is a Non Stock Nonprofit 501(c)(3) supporting the Iroquois Nationals (now the Haudenosaunee Nationals). Previously INDG was known as Road Warriors Lacrosse. We are working with GoFundMe to update the name change to reflect this transition.

LACROSSE is coming to the Los Angeles Olympics in 2028. Haudenosaunee Nationals Women’s’ and Men’s’ Lacrosse Teams (formerly Iroquois Nationals Lacrosse) will be on the Road to the Olympics. World Cup competitions starting in June 2022 in Towson, MD and World Games Olympic Qualifier Games start July 7 in Birmingham, Alabama. U-21 team travels to Limerick, Ireland in August.


5. JOBS: UNITED AUBURN INDIAN COMMUNITY IS SEEKING TRIBAL ADMINSTRATOR

The United Auburn Indian Community is seeking to hire a Tribal Administrator to plan, manage, coordinate, and evaluate the day-to-day operations of the Tribal Government and provide strategic input under the general supervision of the Tribal Council. The Tribal Administrator is responsible for ensuring effective and efficient achievement of Tribal departmental policies, goals, and objectives, while incorporating the Tribe’s overall vision, mission, and values and assessing and providing a large array of services to its members. This position offers a competitive compensation package includes a salary of $300,000, with excellent benefits.


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