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You are at:Home»INSTANT REPLAY»NAC’s Lobbying Gears Up With ‘ATMs Go to Washington’ Event

NAC’s Lobbying Gears Up With ‘ATMs Go to Washington’ Event

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By Casey Minter on July 27, 2018 INSTANT REPLAY
The National ATM Council (NAC) has pronounced “ATMs Go to Washington” an unqualified success. Taking place July 17-18, the two-day “fly in” event saw dozens of ATM industry professionals conduct more than 30 meetings with policymakers and their staffs. The group met primarily with lawmakers from the Senate Banking and House Financial Services committees.
At the top of NAC’s agenda was the alarming rise in bank account closures that have plagued the industry over the last several years. A banking policy hold-over from the widely discredited Operation Choke Point, which ended in 2017, some say the closures have reached “crisis levels.” According to NAC officials, account closures threaten the businesses of U.S. ATM deployers, as well as coin-op amusement operators, across the country.
NAC IN DC: Bruce Renard, NAC executive director (left) with Spencer Matthews, EVP, ATMequipment.com; Kenneth Gilbert, President CORD Financial Services; and Jim Cabe, Turnkey ATM Solutions, LLC meet with U.S. Congressman Barry Loudermilk (R-GA) during the group’s recent ATMs Go To Washington event. The “fly in” visit was aimed at raising policymakers’ awareness of ATM issues, including bank account closures.

“With closures exploding in recent weeks, there could have been no better time for this year’s ATMs Go to Washington annual fly-in,” said NAC Board Chair and Access One CEO, George Sarantopoulos. “Thankfully, our large NAC delegation from across the U.S. did a great job and was able to make a major impact in fighting the bank account blacklisting scourge for our industry.”

NAC’s latest efforts focus on pursuing an aggressive educational outreach with all parties involved to ensure a fuller understanding of the extensive checks and balances already in place to assure no misuse of independent ATMs for any illicit activity.  This includes in-depth oversight, vetting, background checks, and due diligence review to which all ATM deployers are subjected to from their sponsoring banks, ATM processors, and the debit networks to be authorized to deploy ATMs.

According to association officials,  NAC is working with all parties involved to develop a consensus solution that will in fact restore reasonable access to banking services for all U.S. ATM companies that operate in accordance with all these current requirements, NAC’s ATM Vault Cash & Settlement Account Guidelines, and any other reasonable measures that will provide comfort to the banks and banking regulators that no misuse of the ATMs is occurring for money laundering or any other unlawful purpose.

The National ATM Council, Inc. is a not-for-profit national trade association dedicated to ethically and effectively representing the business interests of ATM Owners, Operators and Suppliers in their efforts to provide safe, secure and convenient delivery of cash to consumers throughout the U.S.

For additional information, visit the NAC website here.

Account Closures ATMs Go to Washington Bruce Renard NAC National ATM Council
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