FSCNY - WHAT'S NEW HIGHLIGHTS

FSCNY has many activities for both its members and the New York communities they serve.  It is the leading voice on legislative, regulatory and business issues that affect its members and the rights of New Yorkers to access basic financial services.

• "Democracy for All" -- FSCNY Voter Registration Program begins June 1, 2010

  • Millions of New Yorkers currently are not registered to vote. In response, FSCNY has launched its “Democracy for All” state-wide, non-partisan voter registration campaign. The program started on June 1, 2010 and will run through September 30, 2010. Learn more.
     

• FSCNY's Eighteenth Annual Conference and Exposition was be held Tuesday, May 11, 2010 at the New York Marriott at the Brooklyn Bridge.
  Click for program highlights and photos.

  • 16 students were awarded $43,500 in scholarships at the Conference. Since inception of the FSCNY/MoneyGram International Scholarship Program in 1996, $511,500 has been awarded to 236 students.
    Read the press release. More about the FSCNY College Scholarship Program.

  • NYC Councilman Mathieu Eugene was presented with a check for almost $300,000 raised from the State’s Check Cashers and matched
    by Western Union Foundation to be used for Haiti Relief.
    Read the press release.
    
    Learn about FSCNY Haiti Relief Fund and FSCNY's efforts to aggressively organize the state's entire industry, including more than 787 stores, to raise funds in response to Haiti's devastating earthquake on
    January 12, 2010.
     
• FSCNY Partners with U.S. Census Bureau
  • FSCNY is partnering with the Census Bureau to help promote the fullest-possible level of participation of the 2010 census by our members’ customers. Learn more.
     
• NYC Department of Consumer Affairs Crackdown on Income Tax Preparers
  • Department of Consumer Affairs (DCA) Commissioner Jonathan Mintz today announced that during a month-long investigation of income tax preparers throughout the City, DCA inspected nearly 800 tax preparation businesses and issued 2,010 charges for violations including illegally advertising refund anticipation loans (RALs) as “instant” or “rapid” refunds. Total fines from the enforcement sweep could reach more than $1 million. New Yorkers are encouraged to file taxes for free. Click for press release.
     
• New check cashing fee rate of 1.83% - effective March 1, 2010.
   

• FSCNY UPDATE -- The Official Newsletter of the Financial Service Centers of New York -- Winter 2009

  • What's Inside: Financial Service Provider of the Year, President's Report, Government Relations Round Up, Results of 3rd Annual Industry Survey, Store Appearance Program, New Law Affects Check Cashers, and more!
     

• FSCNY White Paper and Fact Sheets Now on Website

  • Economic Inclusion White Paper - Documents the role of non-bank financial service centers (FSCs), or check cashers in economic inclusion, especially of low-and moderate-income consumers.

  • Transparency - A Consumer's Right to Know - How licensed financial service centers (check cashers) provide total transparency in all consumer transactions.

  • The Unbanked & Underbanked in New York - How the transaction-based approach to financial services meets their needs.

  • FSCNY's Involvement in Local Communities - How FSCNY members support local communities where our customers live and work.

  • FSCNY Scholarship Program - Giving back to local communities, helping promote New York’s young scholars.

  • FSCNY Backgrounder - The important services that are offered by NY check cashers/financial service centers and the size of the industry.

• NY's Licensed Check Cashers Help with "Back to School" Program - August 13, 2009
  New York’s licensed check cashers are serving as a key delivery channel for the state as it distributes money to welfare and food stamp recipients through its one time “Back to School” program.

• NY Governor Paterson Meets with FSCNY Board Members - July 23, 2009
  See the photos and more info on this event at the Union League Club
  of New York.
   
• 2009 FSCNY Albany Blitz - April 28, 2009
  • Dick Smith, FSCNY’s lobbyist in Albany, lead members through a day-long schedule of legislative meetings with some of New York’s most important Members of the State Senate and Assembly.
    Click for photos.
     
• Jason Carballo, FSCNY President, Testifies Before NYS Banking Department at Hearings on the Banking Development District Program - April 2, 2009
  • Presents the role that Nonbanks play in delivering financial services to low-and moderate-income New Yorkers. Read his testimony.
     
• FSCNY Launches Financial Education Program in NYC Schools
  "Money & Me - Becoming a Money Smart Kid"
  • In collaboration with American Credit Alliance and NYC's Department of Education, FSCNY is sponsoring a financial literacy savings program for use with second graders.  Read more about the "Money & Me" program.
     
• FSCNY Supports Passage of Industry Bill by NYS Legislature, Increasing Penalties for Unlicensed Check Cashing Activities
  • The new law (L. 2008, Ch. 235), which took effect on October 5, 2008, increases the criminal penalties for individuals found guilty of engaging in unlicensed check cashing to $1000, and raises the penalties for corporations to a maximum fine of $5,000, or any higher amount not exceeding double the amount of the defendant's gain from the commission of the crime. As a Class A Misdemeanor, violations also carry potential jail terms of up to one year. 
     
• FSCNY Named to FinCEN Advisory Board
  • FSCNY has been appointed by the Financial Crimes Enforcement Network (FinCEN) to be a member of the Bank Secrecy Act Advisory Group. The three-year term began on March 1, 2008 and expires on February 28, 2011.  Read more about it in the Spring 2008 FSCNY Update.
     
• State of New York Banking Department issues Industry Letter regarding tax preparation firms conducting illegal check cashing activities - January 25, 2008
• "The Check Casher Delivery Channel: Could You Use 6,000 Additional Branches?,"
  by Joseph Coleman of RiteCheck. 
  
  This presentation was presented at a panel in Chicago in June 2006 as part of the conference, “Underbanked Financial Services Forum,” sponsored by The Center for Financial Services Innovation, SourceMedia, USBanker and the American Banker.
   
• Center for Financial Services Innovation Study on PayNet Deposit Program
  • Click for press release
  • Click for the report