The financial services industry has become a lot more complex in recent years, often to the benefit of borrowers and others. Personal loans, for instance, have become increasingly accessible to people who might not formerly have qualified at all.
One way by which this has happened has been the proliferation of lenders of less-traditional kinds. Many Native American tribes, for example, have set up personal lending operations of their own in recent years.
The sovereignty enjoyed by such groups allows them to offer types of loans that would not be possible in certain other jurisdictions. In many cases, that means borrowers are able to obtain financing when their credit histories would normally keep them shut out.
Making the Arrangements Required for a Novel Type of Lending
Setting up such a lending business inevitably takes plenty of experience and knowledge. Most often, tribes have relied on experts like David Johnson of Cane Bay Partners to provide the required expertise.
In certain situations, such arrangements have led to misunderstandings and even lawsuits. Johnson was named as one of the defendants in a related case, for instance, that was eventually dismissed with prejudice by the presiding judge.
The reason for this was simply that the plaintiffs in the case had decided that their claims were no longer worth pursuing. They had originally alleged that a complex scheme had been pursued whereby Native American tribes were being used to circumvent existing laws.
As the case proceeded, it became clear to most observers that this was an overly pessimistic view of the actual situation. The inherent, though circumscribed, sovereignty of Native American tribes having been acknowledged by the courts many times in the past, the plaintiffs’ arguments came to be viewed as overly grasping themselves.
Many More Challenges Await
That case having been disposed of in a way that left his reputation unmarred, Johnson has since returned to work at Cane Bay Partners, the consulting firm he helped found. Under David Johnson Cane Bay has helped many companies and organizations worldwide achieve a wide variety of goals in the financial services industry and elsewhere. The complexity that so often makes that arena confounding to outsiders can always be mastered by those with the right skills.