Who qualifies for Regular Membership in FiSCA?
Any financial service provider that offers check cashing and/or payday advances qualifies for Regular Membership. Members' operations and practices must comply with all federal, state, and local laws and regulations. In addition, members must agree to adhere to Financial Service Centers of America (FiSCA)’s Best Practices and other standards which are adopted and issued by FiSCA subsequently for the benefit of the financial service center industry and its customers.
Annual Dues for 2020 Regular Membership
$330 per location
Members must pay for all
What are the Benefits of
FiSCA has worked in Washington, DC for over 25 years representing the interests of neighborhood financial service centers. Legitimate concerns continue that the newly created Consumer Financial Protection Bureau (CFPB) may begin imposing harmful and burdensome federal regulations on our industry, possibly forcing many businesses into difficult times and restricting growth.
As a member of FiSCA, you will be part of the strong and united front of members from across the country working together to make sure adverse decisions are not made against our industry and businesses. FiSCA works for you by pooling resources and leveraging relationships to positively influence decision makers in Congress, the CFPB, and other regulatory agencies.
In addition to a strong Government Relations
presence, you’ll receive:
- Exclusive invitations to
- Periodic updates
and guidance on new regulations affecting the industry, new frauds and scams, and other issues impacting your business.
- Information regarding Campaigns and initiatives supported by FiSCA that focus on our industry.
The 2020 FiSCA BSA/AML Compliance
features comprehensive materials that have long been hailed as the “gold standard” by banks, regulators and even competitors! These include:
Model Compliance Program Manual – This guides you in developing an AML compliance program tailored to your specific business. It also includes sections on prepaid access requirements, risk assessment policies, Office of Foreign Assets (OFAC) requirements, and other key areas.
Risk Assessment Matrix – This will assist you in performing an assessment of your business’ particular AML risk profile, including number of products/services provided, and geographic area served. FinCEN and the IRS recommend that all money services businesses conduct an internal risk assessment as part of your AML program.
- FiSCA Compliance Program
Review Checklist – Federal AML regulations require that your compliance program is the subject of a periodic, independent review to ensure that it is properly functioning. This checklist will help you in completing and documenting this process.
- FiSCA Employee Compliance Training Manual
– Federal AML regulations also require that money services businesses maintain an ongoing employee training program. The FiSCA training manual will help educate your employees on the core AML requirements, including identification of suspicious activities and currency transaction reporting.
Anti-Money Laundering Compliance Examinations 1 and
2 – These two industry examinations will help to ensure that your employees are up-to-date and knowledgeable in the key AML areas.
FiSCA BSA/AML Compliance Certification
Program—offered at our MoneyTrends Conference—provides documentation of the most current BSA/AML regulatory updates, money laundering and financial crime scams and case studies, best practices, prepaid access and money transfer issues, and high profile enforcement actions. Regulators and banks require that financial service centers maintain tough BSA/AML programs run by properly trained individuals.
Bank List – An exclusive FiSCA listing of banks and credit unions that serve the financial services center industry.
- Check Cashers are Good Depository
Customers –A brochure that explains why check cashers are good customers for banking institutions.
- A Guide to
Managing Your Bank Relationship – Guidance from an industry expert on how to best foster successful bank relations.
Deposit Fraud Resources
- Collecting on Checks Returned Due to Mobile
Deposit Fraud – Guidance and sample letters to aid in collection after second presentment.
- Mobile Deposit
Fraud and Impact on MSBs –A guideline on mobile deposit fraud, applicable warranties and collection issues.
- FiSCA’s “Red Flags Rule”
Identity Theft Prevention Model Program – to aid members in implementing required programs to detect and prevent identity theft for certain “covered accounts.”
Other Important Benefits
- Exclusive membership access to FiSCA’s
legal experts, who can assist members with bank termination, tax refund fraud, and other industry related issues.
- Exclusive member discount for FiSCA’s MoneyTrends Conference & Expo registration and online compliance
- Free subscription to
Currents, FiSCA’s industry leading print magazine, and e-Currents, FiSCA’s members-only electronic newsletter.
- Members-only News
Clips delivered to your inbox daily, keeping you informed and up to date on the latest news impacting the industry and your business.
- Members-only access to the FiSCA
Website for key resources and important publications.
- Opportunity to offer a National Savings
Program via NetSpend Pre-Paid All Access Debit Card.
- Authorized use of the FiSCA logo in and around your business.
- Agreement to FiSCA’s Best
Practices, which enhances your standing with both customers and regulators.
To join now, download an
or contact LeeAnn Thompson at 202.327.9714 or email@example.com. Members must also sign the Best Practices document, agreeing to follow all