A former president of the American League of Lobbyists notified Congress on Tuesday that he is advocating for a Fort Worth, Texas-based company that runs pawn shops and offers cash advances, among other financial services.
Wright Andrews Jr. of Andrews & Andrews, who led the League for a stint in the 1990s, is lobbying for Cash America International Inc. on legislation that would establish a federal charter for nonbanks that serve individuals who have bank accounts but depend on alternative financial services, or who don't have bank accounts at all, according to congressional paperwork. Under the bill introduced by Rep. Joe Baca (D-Calif.), the U.S. Office of the Comptroller of the Currency would regulate the financial services institutions, providing Cash America with a platform to operate more effectively across the United States, Andrews said.
"Cash America has been working on these issues for a long time," he said.
Founded in 1984, Cash America has more than 1,000 locations in the United States and Mexico, according to the company. It also provides consumer loans through the Internet to individuals in Australia, Canada, the United Kingdom and almost three dozen U.S. states. Cash America operates under several names, including Cash America Pawn, Cash America Payday Advance, Cashland, Mr. Payroll, Pawn X-Change and SuperPawn.