First Data Creates $10 Million Empowerment Fund
WASHINGTON, March 3 /PRNewswire-FirstCall/ -- Charlie Fote, chairman and
CEO of First Data Corp. (NYSE: FDC), a global leader in electronic commerce
and payment services, today announced the company's strong support for
comprehensive action on immigration reform and the formation of a $10 million
empowerment fund dedicated to assisting communities within the United States
and abroad.
At the National Press Club forum, "Immigration: What Reform Will Bring to
our Nation," Fote called for action: "First Data Corp. and its subsidiary,
Western Union, step forward to join a national call for a more enlightened
debate. We seek and support ways to allow the voices of those most affected
to be heard. This is a critical issue for our country and our consumers."
The forum panelists included leaders from the National Council of La Raza
(NCLR), the National Association of Latino Elected and Appointed Officials
(NALEO), the Tomas Rivera Policy Institute (TRPI), North American Integration
and Development Center/UCLA.
In the spirit of the forum's discussion, Fote said, "First Data proudly
announces our $10 million commitment to the communities we serve here and
abroad. By creating the First Data Empowerment Fund, we are announcing our
intention to act as a long-term and active participant in the dialogue
relating to critical issues such as immigration reform and economic
empowerment."
Fote also said a Board of Directors for the Empowerment Fund will be
announced later this month.
Emmy Award-winning journalist and former CNN Washington Bureau Chief,
Frank Sesno, moderated the panel discussion regarding immigration reform.
Fote called for timely reform that reflects America's democratic values and
recognizes the interdependence of the U.S. and foreign economies and
societies.
"This debate must take place in full support of the respect and dignity of
immigrants and their families," Fote stated.
Fote indicated that any legislation implementing immigration reform should
honor the following principles:
* A new immigration policy must recognize that immigrants strengthen the
U.S. economy and diversify the social fabric of our society.
* Any new policy must address the educational and health needs of
immigrants' children. Children are our future -- they cannot
be ignored.
* The policy must contain a mechanism to reduce the backlog of families
seeking to immigrate to the U.S.
* There must be a fundamental reassessment of U.S. immigration and
migrant worker policies, practices and laws as a means of living up to
our democratic values.
* A new policy must contain new regulations and requirements that are
reasonable, enforceable and not overly burdensome to businesses or
individuals.
* There must be an acknowledgement that the solution to inhibiting
undocumented immigration must address economic development and growth
issues in the exporting countries from which immigrants come.
* The new policy must appropriately balance the concerns of immigrants
with the need to protect U.S. residents.
About First Data and Western Union First Data Corp., with global
headquarters in Denver, helps power the global economy. Serving approximately
3.1 million merchant locations, 1,400 card issuers and millions of consumers,
First Data makes it easy, fast and secure for people and businesses to buy
goods and services, using virtually any form of payment: credit, debit, smart
card, stored-value card or check at the point-of-sale, over the Internet or by
money transfer. For more information, please visit the company's Web site at
http://www.firstdata.com .
Western Union Financial Services, Inc. a subsidiary of First Data Corp.
(NYSE: FDC), is an international leader in consumer money transfer services.
Consumers can quickly and reliably pay bills and transfer money around the
globe using the company's proprietary money transfer network. Western Union
and its subsidiary, Orlandi Valuta, together make up one of the world's
largest money transfer networks with a total of approximately 182,000 Agent
locations in more than 195 countries and territories. Famous for its
pioneering telegraph service, the original Western Union dates back to 1851
and introduced electronic money transfer service in 1871. For more
information, please visit the company's Web site at http://www.westernunion.com .
FDC-1
SOURCE First Data Corp.
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Related links:
http://www.firstdata.com
http://www.westernunion.com
CONTACT:
Media, Wendy Carver-Herbert, +1-303-967-6416,
or Danielle Jimenez, +1-303-967-6062, for Western Union; or
Roderic Olvera Young of McGinn Group, +1-703-328-2154, for First
Data Corp.
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