HomeMy WebLinkAboutReg 2020-08-03 Item 6B - Resolution - Support of Unbanked Money Transfer Operators and Urging WA State Legislature to Pass Financial Inclusion LawCOUNCIL AGENDA SYNOPSIS
---------------------------------- Initials
Meeting Date
Prepared by
Major's review
Council review
07/27/20
BJM/LM
08/03/20
BJM/LM
ITEM INFORMATION
ITEMNO.
STAFF SPONSOR: B.MILES AND L.FIUMPHREY
ORIGINAL AGENDA DATE: 7/27/20
AGENDA ITEM TITLE RESOLUTION REGARDING UNBANKED MONEY TRANSFERS OPERATIONS
CATEGORY ® Discussion
Mtg Date 07/27/20
❑ Motion
Mtg Date
® Kesolution
Mtg Date 8/03/20
❑ Ordinance
Mtg Date
❑ Bid Award
Mtg Date
❑ Public Hearing
Mtg Date
❑ Other
Mtg Date
SPONSOR ❑ Council ® Mayor ❑ HR ❑ DCD ❑ Finance ❑ Fire ❑ TS ❑ P&R ❑ Police ❑ PfF
SPONSOR'S THE CITY HAS BEEN ASKED BY A COMMUNITY MEMBER TO ADOPT A RESOLUTION EXPRESSING SUPPORT
SUMMARY FOR UNBANKED MONEY TRANSFER OPERATIONS AND ASKING THE WASHINGTON STATE LEGISLATURE
TO PASS A FINANCIAL INCLUSION LAW.
REVIEWED BY ❑ Trans&Infrastructure ® CommunitySvs/Safety ❑ Finance Com ❑ Planning/Economic Dev.
❑ LTAC ❑ Arts Comm. ❑ Parks Comm. ❑ Planning Comm.
DATE: 7/13/20 COMMITTEE CHAIR: KRULLER
RECOMMENDATIONS:
SPONSOR/ADMIN. City Council
COMMITTEE Unanimous Approval; Forward to Committee of the Whole
COST IMPACT / FUND SOURCE
EXPENDITURE REQUIRED AMOUNT BUDGETED APPROPRIATION REQUIRED
$N/A N/A N/A
Fund Source: N/A
Comments: N/A
MTG. DATE
RECORD OF COUNCIL ACTION
07/27/20
Forward to Regular Meeting
08/03/20
MTG. DATE
ATTACHMENTS
07/27/20
Informational Memorandum, dated July 7, 2020.
Draft Resolution
Minutes from the July 13, 2020 Community Services and Safety Committee meeting
08/03/20
Resolution (Changes from 7/27 C.O.W. shown in strike-thru underline)
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NOTE: Track changes reflect revisions made after
discussion at the 7/27/20 C.O.W. meeting.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, AFFIRMING SUPPORT OF
UNBANKED MONEY TRANSFER OPERATORS (MTOs)
AND THE IMMIGRANT COMMUNITIES THEY SERVE AND
URGING THE WASHINGTON STATE LEGISLATURE TO
PASS A FINANCIAL INCLUSION LAW.
WHEREAS, unbanked Money Transfer Operators (MTOs) in Tukwila, King County,
and across the United States of America have been unable to secure bank accounts due
to a process referred to as "bank de -risking"; and
WHEREAS, over the past few years, these MTOs have found it increasingly difficult
to operate without a bank account; and
WHEREAS, due to being unbanked, MTOs have been unable to access COVID-19-
related small business federally -funded assistance opportunities such as the Paycheck
Protection Program; and
WHEREAS, unbanked MTOs are mostly owned by black and immigrant residents;
and
WHEREAS, a financial inclusion law will help address the racial inequalities in
accessing economic opportunities; and
WHEREAS, a recent string of armed robberies on these unbanked MTOs, which store
large amounts of cash in their premises, in SeaTac, Seattle and surrounding cities has
turned this issue into a public safety concern; and
WHEREAS, East African and other immigrant communities in Tukwila rely on these
MTOs to send money to their loved ones abroad for basic needs including food, water,
shelter and education; and
WHEREAS, these MTOs provide culturally specific services; deliver money to remote
regions not served by the large operators, including refugee camps in East Africa; provide
good paying jobs; contribute to community activities; and are valuable members of
Tukwila's small business community; and
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WHEREAS, Tukwila and King County have one of the largest East African
communities in the United States —nearly 30,000 Ethiopians, Eritreans, and Somalis are
residents in King County; and
WHEREAS, the vast majority of our East African residents are refugees and our new
residents need effective systems that will support them in staying connected to their loved
ones back home; and
WHEREAS, East Africans and other immigrant populations are critical to Tukwila's
economic vitality because they purchase goods and services and run small businesses,
which in turn create jobs and generate revenue for the region; and
WHEREAS, the Washington State Legislature and the State of Washington have
jurisdiction over State -licensed banks; and
WHEREAS, the Washington State Legislature and the State of Washington have the
authority to pass laws and develop processes that promote financial inclusion and public
safety; and
WHEREAS, it is in the City of Tukwila's interest to promote financial inclusion and
public safety;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, HEREBY RESOLVES AS FOLLOWS:
Section 1. The City of Tukwila affirms its support of our East African and other immigrant
communities GGFnFnunity in their desire to support their loved ones. On the Horn „f nfriGa. The
City of Tukwila also affirms the right of Money Transfer Operators to engage in lawful
commerce in a safe manner.
Section 2. The City of Tukwila strongly urges the Washington State Legislature to pass
a financial inclusion law that will address the public safety and equal access issues caused
by bank de -risking.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at
a Regular Meeting thereof this day of , 2020.
ATTEST/AUTHENTICATED:
Christy O'Flaherty, MMC, City Clerk De'Sean Quinn, Council President
APPROVED AS TO FORM BY:
Filed with the City Clerk:
Passed by the City Council:
Resolution Number:
Office of the City Attorney
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