H 4277
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 maximum allowable fees for check cashers in Massachusetts. It limits fees for various types of checks, including personal, payroll, and payment instruments, to specific percentages of the check’s value plus a standard $1.00 service charge. The bill also sets a maximum fee of $5.00 for initial customer account setup and requires check cashers to publicly post their fee schedules.
Key provisions
- Limits fees for personal checks to 5% of the face value plus $1.00.
- Limits fees for payroll checks to 2.25% of the face value plus $1.00.
- Limits fees for checks under $1,500 to 3% of the face value plus $1.00.
- Sets a maximum fee of $5.00 for establishing an initial customer account.
- Requires check cashers to file annual fee schedules with the commissioner.
- Mandates conspicuous posting of fee schedules in all locations.
- Updates the maximum amount for which a check can be cashed without a fee from $500 to $1,000.
- The bill takes effect 12 months after its enactment.
Who is affected
- Check cashers
- Individuals receiving checks
- Consumers in Massachusetts
Notable changes
- Establishes a cap on check-cashing fees, which previously had no regulatory limit.
- Specifies different fee rates based on the type of check.
- Introduces a fee for establishing initial customer accounts.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Joint Committee on Consumer Protection and Professional Licensure
Cosponsor
Daniel J. Hunt
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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
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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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