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National ATM Council Annual DC Fly In - A Significant Step Forward for America's ATM Entrepreneurs
"This year's fly in attracted the most ever participants and also encompassed the largest coordinated set of Congressional meetings ever conducted by the US Independent/
As Renard noted, "Lawmakers have begun taking notice of this industry sector and the vital role it plays in communities across the country. It was clear our prior fly ins and meetings with members of the Banking and Financial Services Committees have succeeded in raising positive awareness of the important contribution Independent/
The NAC delegation arrived on Capitol Hill with a tightly focused agenda, which included expressing support for maintaining a cash payment option for US consumers. Although a number of cities and states, including New Jersey and Philadelphia, have already passed or are considering legislation to ensure continued cash acceptance at retail/public venues in the US, a uniform national policy is preferable in NAC's view – and will avoid a piecemeal approach to the important issue of assuring US currency's continued validity as legal tender nationwide. Two similar bills on this subject have been introduced in the US House of Representatives, and NAC is hopeful Congress will soon pass bipartisan legislation to establish clear and cohesive national policy on the issue.
"We are hopeful that support for continued consumer choice to pay with US currency at retail in America will continue to emerge on both sides of the aisle in Congress," Renard said. "It's never easy to pass legislation in today's highly charged political climate, but we feel certain that, regardless of party affiliation, maintaining the validity of cash as a payment option for consumers throughout the US is a public policy that will continue to be embraced broadly as an important national imperative going forward."
NAC representatives were also encouraged by progress made during the fly in on the association's other major industry issue, involving the continuing epidemic of unfounded bank account closures impacting our nation's ATM businesses. Also raised during prior NAC fly ins, this issue continues to plague lawful and legitimate ATM businesses across the country. A grim echo of Operation Choke Point, which was supposed to have ended in 2017, the bank account blacklisting and "de-risking"
"NAC's efforts are unrelenting in seeking to restore reasonable access to the US banking system for America's ATM entrepreneurs,"
"Although ATM company bank account closures/denials have not received the same level of public attention as preserving a cash payment option for consumers, bank account blacklisting of ATM companies remains a threat to continued widespread convenient access to cash in America and must be stopped," said Sarantopoulos.
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