Bill > H213

This bill aims to protect consumers by establishing maximum allowable fees that licensed check cashers can charge for their services. Specifically, it sets limits on the percentage of the check's value that can be charged, with different rates for government checks (1.5% plus $1 service charge), payroll checks (3% for checks $100 or less, 2.25% for checks over $100, both plus $1 service charge), personal checks (5% or $5, whichever is greater, plus $1 service charge), and other payment instruments like drafts or money orders (3% plus $1 service charge). The bill also caps the initial customer account setup fee at $5 and increases the maximum penalty for violations from $500 to $1,000, providing a stronger deterrent against excessive fees.