HOUSE DOCKET, NO. 1232        FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 223

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Carlos Henriquez and John Hart, Jr.

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act creating a maximum allowable check-cashing rate.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Carlos Henriquez

5th Suffolk

1/16/2013

John Hart, Jr.

First Suffolk

1/16/2013

Linda Dorcena Forry

12th Suffolk

1/30/2013

Gloria L. Fox

7th Suffolk

2/1/2013

Cory Atkins

14th Middlesex

1/31/2013

Denise Provost

27th Middlesex

1/30/2013

Angelo M. Scaccia

14th Suffolk

1/31/2013

Ellen Story

3rd Hampshire

1/30/2013

Martin J. Walsh

13th Suffolk

1/28/2013

James B. Eldridge

Middlesex and Worcester

1/29/2013

Alexandra Knowles

n/a

 


HOUSE DOCKET, NO. 1232        FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 223

By Mr. Henriquez of Boston and Senator Hart, a joint petition (accompanied by bill, House, No. 223) of Carlos Henriquez and others for legislation to limit fees charged by cashers of checks, drafts or money orders.  Consumer Protection and Professional Licensure.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 1880 OF 2011-2012.]

 

The Commonwealth of Massachusetts

 

_______________

In the Year Two Thousand Thirteen

_______________

 

An Act creating a maximum allowable check-cashing rate.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Chapter 169A of the General Laws is hereby amended by adding after section 13 the following section:

Section 14.  (a) Notwithstanding any other provision of the law to the contrary, no check-casher licensed or subject to regulation under this chapter shall directly or indirectly charge or collect fees or other considerations for rendering currency exchange services in excess of the following:

(1) 1.5 per cent of the face value of the check, draft or money order plus a service charge of one dollar for all checks, drafts or money orders 100 dollars or less.

(2) 2.25 per cent of the face value of the check, draft or money order for all checks, drafts or money orders greater than 100 dollars

SECTION 2. Section 8 of said chapter 169A is hereby amended by striking out, in lines 20 to 21, the words “five hundred dollars per day” and inserting in place thereof the following words: - one thousand dollars

SECTION 3. Section 13 of said chapter 169A is hereby amended by striking out, in line 2, the words “five hundred” and inserting in place thereof the following words: - one thousand

SECTION 4. Said section 13 of said chapter 169A is hereby further amended by striking out, in line 4, the words “day a violation continues” and inserting in place thereof the following word: - violation