An Act creating a maximum allowable check- cashing rate
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to regulate the fees that check cashers can charge for processing checks, drafts, and money orders in Massachusetts. It seeks to establish a maximum allowable rate for these services, protecting consumers from potentially excessive charges. The legislation is intended to provide greater transparency and fairness in the check-cashing industry. This bill builds upon previous attempts to address similar issues.
Key provisions
- Establishes a maximum allowable fee for check cashing.
- Covers checks, drafts, and money orders.
- Applies to check cashers operating within Massachusetts.
- The bill was referred to the Committee on Consumer Protection and Professional Licensure.
- A hearing was scheduled for April 14, 2025.
Who is affected
- Check cashers
- Individuals who use check-cashing services
- Consumers in Massachusetts
Notable changes
- This bill represents an ongoing effort to control check-cashing fees in the state.
- Similar legislation has been proposed and considered in the past (H.207, H.4277, H.2819, H.277, H.401).
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Daniel J. Hunt
Cosponsor
Daniel J. Hunt
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