New York Financial Services Enforcer’s Attack on Native American Tribes Unprecedented, Discriminatory.
Rogue DFS Chief Lawsky
Media has reported that the head of the New York State Department of Financial Services has solidified his position as a ruthless enforcer by “taking high-profile scalps” 1 which now include Native American tribes who are engaging in legal, licensed Internet commerce. Known as a “rogue regulator”, 2 Benjamin Lawsky has attacked companies such as Deloitte 3, Standard Chartered 4, 5 and QBE 6. Now he is telling Native Americans there is a new sheriff in town. Is he out for more “scalps”?
Mr. Lawsky’s own counterparts in the Federal Reserve call him dangerous. 7 UK politicians call him anti-British. 8 And now he has set his sights on legal, licensed online businesses owned by geographically- isolated Native American Tribes.
You see, in an effort to serve the economic needs of their members and improve the lives of the economically disadvantaged among them, some sovereign Native American without access to other sources of revenue such as gaming or natural resources – have turned to the Internet to offer much needed products and services to Americans. They use the revenue from these businesses to pay for essentials such as safe housing, child car seats, meals for the elderly and education programs.
Despite the fact that these products are legal and licensed by the tribes that operate them, “Sheriff Lawsky” is determined to round up these businesses in true cowboy fashion, pressuring banks and others with stiff penalties for working with Native Americans – even threatening to send them to jail.
It’s unfair. It’s discriminatory. And it has to stop. Native American tribes are sovereign nations and have the right – and an obligation – to provide for their people. We will not allow this rogue regulator to prey on struggling Native American Nations.
What’s good enough for banks should be good enough for tribes. NAFSA’s best practices include full compliance with applicable federal consumer laws.
Call Benjamin Lawsky today and tell him that you will not tolerate these discriminatory actions by his administration.
1 https://www.insiderquarterly.com/-1242425/the-long-arm-of-lawsky-
2 https://www.businessinsider.com/who-is-benjamin-lawsky-2012-8
3
https://nymag.com/daily/intelligencer/2013/06/regulator-whos-not-afraid-of-wall-street.html
4 https://www.directorship.com/regulators-irate-at-ny-action-against-standard-chartered/
5
https://www.telegraph.co.uk/finance/comment/damianreece/9475640/Cleggs-likely-candidates-for-Governor-dont-fit-the-bill.html
6 https://www.insuranceinsider.com/-1243103/32
7 https://www.insiderquarterly.com/-1242425/the-long-arm-of-lawsky-
8 https://www.businessinsider.com/us-regulators-are-anti-british-2012-8
