Baca Reintroduces Lifeline Bill
Rep. Joe Baca (D-CA) has reintroduced legislation in Congress that would allow all U.S. consumers to get lifeline financial services such as check-cashing, money orders and international money remittances from federally chartered credit unions. Similar legislation was first introduced in the 108th Congress. Introduction of the bill was praised by the California league. "(Check-cashing outlets) do nothing toward moving these consumers, many of whom are new to the United States, into mainstream, regulated financial institutions, and helping them establish credit and build wealth," said David L. Chatfield, California league CEO.