FOR IMMEDIATE RELEASEMay 21, 2015

Statement from Engage Cuba on Its Role in Cuban Interests Section Banking Announcement

WASHINGTON James Williams, President of Engage Cuba, released the following statement on the announcement that Stonegate Bank has agreed to offer consular banking services to the Cuban Interests Section in Washington, DC:

As an advocacy organization dedicated to removing barriers to American travel and trade that prevent us from better helping the Cuban people and advancing American interests, Engage Cuba was pleased to have played a role in facilitating this historic partnership between Florida-based Stonegate Bank and the future Cuban embassy in Washington, DC. This is a significant step not only toward normalizing relations between the U.S. and Cuba, but to ensure that Cuban-Americans -- and indeed all Americans -- who want to play a part in Cuba's evolution are able to rely on the consular services and financial transaction infrastructure that it demands. The failed 54-year-old embargo on U.S. investment and banking has limited Cuban-Americans from visiting and supporting their families and loved ones; moreover, it has hampered opportunities for Cubas rising class of entrepreneurs. Engage Cuba firmly believes that significant steps like todays banking agreement are essential to developing fruitful bilateral relationships that will bolster economic opportunity and personal liberty for the Cuban people. Now Congress should follow suit and lift outdated travel and trade bans on the American people.