H4277
An Act creating a maximum allowable check-cashing rate for check cashers
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes a maximum rate that check cashers can charge for cashing checks. The goal is to protect consumers, particularly those who may rely on check cashing services, from potentially excessive fees. The bill sets a limit on the fees check cashers can collect, aiming to promote fairer practices within the industry. It seeks to ensure transparency and prevent predatory lending practices related to check cashing.
Key provisions
- Establishes a maximum allowable rate for check-cashing fees.
- Applies to all check cashers operating within the state of Massachusetts.
- The specific rate will be determined during the legislative process.
- The bill aims to regulate fees charged for check cashing services.
- It seeks to provide consumer protection against unfair fees.
Who is affected
- Check cashers
- Consumers who use check-cashing services
- Individuals receiving checks for payment
Notable changes
- This bill introduces a regulatory framework for check-cashing fees in Massachusetts.
- It builds upon previous legislation related to check cashing fees and disclosure requirements.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Joint Committee on Consumer Protection and Professional Licensure
Cosponsor
Daniel J. Hunt
Arguments in favor
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Bill H.4277 194th (Current)
An Act creating a maximum allowable check-cashing rate for check cashers
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Bill Information
Bill Information
Sponsor: Joint Committee on Consumer Protection and Professional Licensure Status: Referred to House Committee on Bills in the Third Reading
Tabs
Bill History Cosponsors Committee Summary
Bill History
Displaying 6 actions for Bill H.4277
| Date | Branch | Action |
| 7/23/2025 | House | Reported from the committee on Consumer Protection and Professional Licensure |
| 7/23/2025 | House | New draft of H400 |
| 7/23/2025 | House | Bill reported favorably by committee and referred to the committee on House Steering, Policy and Scheduling |
| 8/21/2025 | House | Committee reported that the matter be placed in the Orders of the Day for the next sitting |
| 8/21/2025 | House | Rules suspended |
| 8/21/2025 | House | Read second and ordered to a third reading |
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