During the past few months, many NPA members received letters from their financial institutions terminating banking relationships and services. Numerous members were told by their local bank officers and branch managers that bank examiners have strongly suggested that their risk management policies be strengthened by terminating certain merchant business relationships that could be considered “high-risk”; however, in many cases no explanations whatsoever were given. As the bank discontinuance reports to the NPA office multiplied, your Government Relations Committee took immediate action on your behalf.
Recently a delegation from the NPA traveled to Washington, DC for meetings with several Federal Regulators. The group provided the regulatory agencies with information about the pawn industry in order to not only inform and educate, but to put a face on the current string of bank discontinuances experienced by a great number of our members nationwide