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Political economy of Indian gaming: the New England experience
AUTHORS: Nathan, Luxman; Henson, Eric
Adopting commercial codes: overcoming lending barriers on reservations
Eric Henson of The Economics Resource Group, Inc., and Luxman Nathan of the Federal Reserve Bank of Boston highlight a legal obstacle to providing increased banking services to Native American reservations. As "sovereign dependent" nations, native American reservations are not governed by the same commercial laws that operate at the state level. In particular, the lack of commercial codes, which regulate commercial transactions within a given jurisdiction, hampers tribal efforts to obtain greater access to banking services. However, a number of tribes are beginning to draft and adopt commercial codes in an attempt to accelerate lending, investment, and service activity by nearby banking institutions.
AUTHORS: Henson, Eric; Nathan, Luxman