HomeMy WebLinkAbout2018RESOLUTION NO. 2018
A RESOLUTION of the City Council of the
City of Kent, Washington, reaffirming the City of
Kent Council's support of money transfer operators
and the immigrant communities they serve.
RECITALS
A. Immigrant communities in Kent, King County, and across the
United States rely on money transfer operators (*MTO") to send money to
their loved ones abroad. Funding provided through these remittances help
provide for basic human needs including food, water, shelter and education.
Additionally, small MTOs provide culturally specific services and deliver
money to remote regions not served by the large operators, including
refugee camps. Further, MTOs provide good paying jobs, contribute to
community activities, and are valuable members of Kent's small-business
community.
B. Some MTOs have been unable to secure bank accounts due to
a process referred to as "bank derisking." Over the past few years, small
MTOs have found it increasingly difficult to operate without bank accounts.
As a result, many have shut down, and those that remain transport millions
of dollars in cash through SeaTac Airport each month, making them targets
of crime. A recent string of armed robberies of MTOs in SeaTac, Seattle, and
L Resolution Suppofting Unbanked MTOs
and the Immigrant Communities They Serue
surrounding cities has brought the issue to the forefront and turned the
matter into a public safety concern.
C. The City is home to a large and diverse immigrant community,
who are critical to the City's economic vitality because they purchase goods
and services and run small businesses, which in turn create jobs and
generate revenue for the region. New residents also need effective systems
that will support them in staying connected to their loved ones abroad. For
these reasons, it is in the City's interest to promote financial inclusion and
public safety.
D. While an important issue, the City itself is without authority on
its own to change the banking industry. The State of Washington, however,
does have jurisdiction over state-licensed banks, and may be able pass laws
and develop processes that promote financial inclusion and public safety.
Council therefore wishes to adopt a resolution evidencing its support for
changes which will assist MTOs in gaining access to bank accounts and
thereby allowing for their increased physical safety.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF KENT,
WASHINGTON, DOES HEREBY RESOLVE AS FOLLOWS:
RESOLUTION
SECTION 7, - The Council reaffirms its support of our immigrant
community in their desires to support their loved ones, and also reaffirms
the right of MTOs to engage in lawful commerce in a safe manner.
SECTION 2. - The Council calls on State lawmakers, including the
Senate Financial Institutions, Economic Development and Trade Committee,
and the House of Representatives Consumer Protection and Business
2 Resolution Suppofting llnbanked MTOs
and the Immigrant Communities They Senre
Committee, to study the issue of bank derisking and to find a solution that
promotes financial inclusion and public safety for immigrant communities
throughout the state.
SECTION 3, - Severability. If any one or more section, subsection,
or sentence of this resolution is held to be unconstitutional or invalid, such
decision shall not affect the validity of the remaining portion of this resolution
and the same shall remain in full force and effect.
SECTION 4, - Corrections bv City Clerk Upon approval of the city
attorney, the city clerk is authorized to make necessary corrections to this
resolution, including the correction of clerical errors; resolution, section, or
subsection numberingi or references to other local, state, or federal laws,
codes, rules, or regulations.
SECTION 5, - Effective Date. This resolution shall take effect and be
in force immediately upon its passage.
DANA RALPH, MAYOR
October 6. 2020
Date Approved
ATTEST:
KIMBERLEY MOTO,
October 6. 2020
Date Adopted
APPROVE
CITY ATTORNEY
3 Resolution Supporting Unbanked MTOs
and the Immigrant Communities They Serue
A R *PAT' FITZPATRIC