HomeMy WebLinkAboutRes 1996 - Support of Unbanked Money Transfer Operators and Urge WA State Legislature to Pass a Financial Inclusion LawCity of Tukwila
Washington
Resolution No. OU
A RESOLUTION OF THE CITYCOUNCIL OF THE CITYOF
TUKWILA, WASHINGTON, AFFIRMING SUPPORT OF
UNBANKED MONEY TRANSFER OPERATORS(MTOs)
AND THE IMMIGRANT COMMUNITIESTHEY 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 bankaccounts 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 stri n g of armed robberies on th ese u n banked 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,
shelterand education; and
WHEREAS, these MTOs provide culturally specific services; deliver money to remote
regions notserved 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
W :\Legislative Development\Unbanked Money Transfer Operators —affirming support 7-30-20
LH:bjs Review and anayss by Barbara Saxton Page 1 of 2
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 supportthem in staying connected to theirloved
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 createjobs and generate revenueforthe 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 havethe
authorityto 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:
Section1. The Cityof Tukwila affirms its supportof ourEastAfrican and otherimmigrant
communities in theirdesire to support their loved ones. 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 Tu kwila strongly urges the Washington State Legislature to pass
a financial inclusion law thatwill 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 Au,gwS1 _12020.
ATTESTIAUTH E N TICATE D:
C`.Oihedtq ('.�C�(/rlre7Cf
ChristyO'Flaherty, MMC, City Clerk
e'Sean Quinn, Council President
APPROVED AS TO FORM BY:
Filed with the City Clerk:
CSaticd Passed by the City Council: $-3-26 _
Resolution Number: (`ib
Office of the City Attorney
W ALeg islative Development\Unbanked Money Transfer Operators—afruming support 7.30-20
LH:bjs Review and anayss by Barbara Sexton Page 2 of 2