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Pennsylvania State Senate
04/19/2024 08:31 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20150&cosponId=17213
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Senate Co-Sponsorship Memoranda

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Senate of Pennsylvania
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: February 4, 2015 10:27 AM
From: Senator Gene Yaw
To: All Senate members
Subject: Government Check Cashing Requirements
 
In the near future, I plan to introduce legislation that would amend the Check Casher Licensing Act of 1998 to lower the fee for cashing a government issued check; to require the public posting of fees for cashing the check; and to all for recovery of losses due to fraudulent misrepresentation.

Currently, the Department of Banking and Securities is requiring check cashers and retail food stores that cash these types of checks to register under the National Mortgage Licensing System. Companies with more than one location must fill out an application for each location and store managers must submit a considerable amount of personal information. This puts an undue burden on many small businesses as well as larger companies with multiple locations.

I hope you will join me in support of this legislation.

Introduced as SB489