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Regulations of Connecticut State Agencies (Last Updated: June 14,2023) |
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Title36a The Banking Law of Connecticut |
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SubTitle36a-585. Maximum Check Cashing Fees |
| Sec. 36a-585-1. Check cashing fees |
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Latest version.
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(a) No check cashing service licensed under Section 36a-581 of the Connecticut General Statutes shall charge or collect in fees, charges or otherwise for cashing a check, draft or money order drawn on a depository institution, a sum exceeding two percent of the item. (b) Each licensee shall give to the individual cashing a check, draft or money order a receipt which shall, at minimum, include the following: (1) Date on which the check, draft or money order is cashed; (2) Name of the payee of the check, draft or money order; (3) Face amount of the check, draft or money order; and (4) The fee collected for cashing the check, draft or money order. |
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(Effective May 17, 1990; TransferredApril 24, 1995) |