It’s an honor to deliver this keynote address at the annual meeting of the Financial Services Centers of America (“FiSCA”). FiSCA represents some 6,000 licensed financial service center locations nationwide and these centers provide a broad range of much-needed products and services including: check cashing, prepaid cards with savings options, electronic bill payment services, installment loans and payday loans, wire transfers, vehicle title loans, metro transit cards, tax preparation and filing services, money orders, ATM access, debit card loads and withdrawals, and car license plates and titles pickup. Clearly, the convenient access to these services you provide is hugely important to tens of millions of working Americans.
These have been difficult times for many of you, particularly in light of an extremely hostile government environment at the federal level. Bank regulators, and more recently the Department of Justice with its Operation Chokepoint, have been forcing out of the banking system many companies offering small dollar loans, check cashing, and other services vital to working people. Each week more of your companies engaged in lawful business activities are cut off from access to check clearing, deposit accounts, and other routine banking services required to keep any company in operation.Posted: Oct 11, 2014