-- August 20th, 2010
Paul W. Eckert, President and CEO of Family Financial Centers, LLC was interviewed for the cover article in Cheklist magazine, the most widely read magazine in the check cashing industry. The article, entitled, "bill could be bonanza for industry" refers to the Dodd-Frank Wall Street Reform and Consumer Protection Act. While this bill has caused concern throughout the financial industry, Mr. Eckert believes this is an exciting time for the check cashing industry as a whole. While many are dreading the thought of additional federal oversight, Mr. Eckert sees the restrictions and changing fee structure to likely move more people into non-bank businesses, thus continuing the movement already begun by the poor economy. "Charges on the consumers will go up drastically, and banks will drive people to us," commented Paul Eckert, "The days of free checking are gone."
Family Financial Centers takes pride in developing new ancillary products designed to keep customers coming back. "I'm a firm believer in customer-for-life, and we want to help people through different phases of their financial life, "Eckert says.
With a unique bank-like model, internal financing, and solid banking relationships, FFC can easily re-brand existing stores, usually in a weekend. Having a variety of business models available from Store-in-Store kiosk models to fully-built out retail locations, Family Financial Centers can work within the current business environment and the financing options available.
The Dodd-Frank Wall Street Reform and Consumer Protection Act -- what a mouthful!
But what is it? Learn more here.