A Letter from jennifer robertson
Chairman of the Financial Service Centers of America
Today in the U.S., nearly 8 million households classify as “unbanked,” and an additional 24 million households are “underbanked.” These hardworking families represent nearly one quarter of all households in the U.S. And each and every day, FiSCA members step up in these communities to provide affordable and accessible financial services so these families can make ends meet.
We are the leading national trade association that represents thousands of financial services providers in communities across the country offering a wide selection of financial services. Our members deliver financial services including check cashing, money orders, electronic bill payments, money transfers, small dollar loans, ATM access, government benefit and payroll payments, tax preparation, prepaid debit cards, deposit acceptance services, and numerous other financial and consumer services.
As a top industry voice before policymakers and regulators, we regularly advocate on behalf of the millions of American families who cannot meet the requirements imposed by large financial institutions or choose not to use traditional, large financial institutions. Our duty is to ensure their voices are heard by state and federal legislators, regulators, and other policy leaders to ensure that consumers can continue to access the forms of individualized, personalized financial services not offered by traditional, large institutions.
In the current divisive political environment, FiSCA’s continuing presence in our nation’s capital is critical to retaining our ability to support working Americans’ access to funds, often covering basic life needs as well as emergency expenses. The financial services we provide in communities are strictly regulated and operate in competitive, dynamic markets.
We acknowledge the need for balanced laws and regulations and are committed to remaining a part of the solution to providing responsible, flexible services for working Americans. However, burdensome regulatory roadblocks and obstacles threaten consumer choice, harm underserved communities, and deprive millions of working Americans the opportunity to exercise their rights as consumers to seek financial services that best suit their needs.
It’s why now, more than ever, we need the collective efforts of FiSCA and its members, to ensure that Americans enjoy their right to financial freedom.