Chairwoman Waters, Ranking Member McHenry, and members of the Committee, thank you for the opportunity to testify today. There are more than a billion people around the world who don’t have access to a bank account, but could through mobile phones if the right system existed. This includes 14 million people here in the US. Being shut out of the financial system has real consequences for people’s lives—and it’s often the most disadvantaged people who pay the highest price. People pay far too high a cost—and have to wait far too long—to send money home to their families abroad. The current system is failing them. The ... (full story)