The Financial Service Centers of America (FiSCA) is a professional trade association representing the financial service center industry serving communities throughout the country. More than 35 million Americans visit our member locations each year in addition to or instead of traditional financial institutions and receive a wide array of financial services - regardless of income, liquidity, or credit history.
FiSCA was originally established in 1987 as the National Check Cashers Association (NaCCA), changing its name in 1999 to reflect the industry’s evolution. FiSCA’s activities on behalf of our members include:
- Advocating industry positions before federal, state and municipal lawmakers and regulators.
- Supporting the development of innovative new products and services to meet consumer needs.
- Providing state-of-the-art compliance training programs for the industry.
- Hosting the industry’s largest Annual Conference.
- Promoting a national Code of Conduct that outlines ethical standards to protect customers.
- Sponsoring an annual scholarship program for Americans pursuing post-secondary education.
- Encouraging and recognizing members for outstanding community involvement.
Principles of Choice in Receiving Government Payments. All Americans should have the choice of receiving their payments by the means that is most convenient for them, including paper check.
Payday Advance Loans offer consumers a more desirable alternative to other credit options. Payday advance loans are small, short-term cash advances, which are a popular source of credit for Americans. Payday advances help customers, who often are living paycheck to paycheck, bridge the need for small dollar, short-term credit when other options are limited, too expensive or unavailable.
Financial Service Centers provide transparency in all consumer transactions. Customers know the costs of their transactions up front and can plan accordingly. No hidden fees or surprises follow at the end of the month. This affords consumers tremendous peace of mind.
Contrary to popular belief, financial service centers are among the most highly regulated of all consumer financial service providers. Consumer complaints regarding FSCs are virtually non-existent. FiSCA has developed detailed Best Practices and Codes of Conduct that govern its members operations and offering of credit.
For millions of “unbanked” and “underbanked” Americans, the cash-based approach to managing personal financial transactions makes the most sense. Financial service centers provide the cash-based products and services that best meet their needs and the peace of mind of knowing their obligations have been met without fear of future financial repercussions.
Excessive regulatory burdens on banks threaten the MSB Industry and Access to Financial Services for Millions of Americans, Necessitating a Legislative Solution.