Financial Service Centers of New York (FSCNY)
Holds Thirteenth Annual Conference and Vendor Show

BROOKLYN, NY, May 10, 2005 -- The Financial Service Centers of New York (FSCNY) today held their Thirteenth Annual Conference and Vendor Show at the New York Marriott Brooklyn with featured speaker New York State Banking Department Deputy Superintendent Regina Stone. The all-day conference also included a general membership meeting with hundreds of New York’s financial service center providers, a vendor showcase featuring more than forty industry vendors and their latest products and services, two important industry seminars and a scholarship awards luncheon.

“The annual conference and vendor show is important to FSCNY and our members because it provides a once-a-year opportunity for our industry in New York to get together,” said Matthew Bardach, president of FSCNY.  “We learn from each other and discuss ways to continue providing the very best in modern financial services to our growing customer base. This event is a must for anyone in, working with, or covering the financial services industry.”

The first conference seminar focused on industry compliance and is specifically geared to compliance officers and management. This seminar addressed the intricacies of complying with the USA PATRIOT ACT and covered compliance training programs and independent examinations.  The seminar included presentations by FSCNY counsel, Scott McClain, Peter Grassl of North Fork Bank, and Alexander Basden and Valarie Peterson from the Internal Revenue Service.

The second seminar covered commercial check cashing and addressed the technicalities of cashing “commercial checks,” including creating necessary safeguards.  The presentation was made by Robert Rochford, Esq., a member of the FSCNY team. 

 “These two seminars are both important and timely,” said Hank Shyne, FSCNY’s executive director. “The information covered will provide our members with the tools they need to implement strong compliance programs and safeguard our customers, our businesses and the industry.”

The Financial Service Centers of New York is the industry’s leading voice on legislative, regulatory and business issues and the leading advocate for the rights of consumers to access basic financial services in New York. FSCNY represents about 660 check cashing centers, which employ nearly 4,000 New York residents. FSCNY members annually cash more than 36 million checks with a face value in excess of $14.5 billion. New York has the second lowest check cashing fee in the nation at 1.5%.

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