summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to create a maximum allowable check-cashing rate . Financial Services.
AI Summary
This bill aims to create a maximum allowable check-cashing rate in Massachusetts. It would limit the fees that check-cashing businesses can charge for various types of checks, such as government checks, payroll checks, and personal checks. The bill also sets a limit on the account setup fee that these businesses can charge. Additionally, it increases the maximum fine for violations of the check-cashing regulations from $500 to $1,000.
Committee Categories
Business and Industry
Sponsors (7)
Nick Collins (D),
Jamie Eldridge (D),
Dan Hunt (D),
Kay Khan (D),
Patrick O'Connor (R),
Mike Rush (D),
Angelo Scaccia (D),
Last Action
Accompanied a study order, see S2543 (on 02/18/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S553 |
| Bill | https://malegislature.gov/Bills/191/S553.pdf |
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