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