Native Communities Face Sustained Challenges to Building Financial Resilience

Generations of financial exclusion, wealth-stripping policies, and government subjugation contributed to financial fragility that has left majority-Native communities especially vulnerable to the pandemic’s economic ramifications. Using unique credit bureau and alternative financial service data on more than five million people with a credit file, Urban Institute explored the financial well-being of people living in majority-Native communities during the pandemic in 13 states. UI’s analysis finds that during the 2020 pandemic, people living in majority-Native communities faced persistently high rates and levels of delinquent debt, nearly half had subprime credit, and some turned to high-cost predatory lenders to meet their financial needs. #covid-19 #racialequity #wealthandassetbuilding