SLS 20RS-301 ORIGINAL
2020 Regular Session
SENATE BILL NO. 114
BY SENATOR FIELDS
FEES/LICENSES/PERMITS. Provides relative to the Louisiana Check-Cashing Law.
(gov sig)
1 AN ACT
2 To amend and reenact R.S. 6:1009, relative to the Louisiana Check-Cashing Law; to provide
3 for cashing of checks by licensed check-cashers; to provide for fees to cash certain
4 types of checks; to provide for terms and conditions; and to provide for related
5 matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 6:1009 is hereby amended and reenacted to read as follows:
8 ยง1009. Regulation of fees; unreasonable fees; display of fees
9 A. Notwithstanding any other provision of law to the contrary, no
10 check-casher licensed or regulated under this Chapter shall directly or indirectly
11 charge or collect fees or other consideration for rendering currency exchange
12 services in excess of the following:
13 (1) Two One percent of the total amount of the check presented for cashing
14 or five dollars one dollar, whichever is greater, for checks issued by or drawn upon
15 the account of a public welfare or public assistance agency of the United States, the
16 state of Louisiana, or any political subdivision of the state.
17 (2) Ten Two and one-half percent of the total amount of the check presented
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 114
SLS 20RS-301 ORIGINAL
1 for cashing or five two dollars, whichever is greater, for all other checks or for
2 money orders.
3 B. All The fees charged by a licensee for rendering currency exchange
4 services shall be prominently displayed on the premises of the currency exchange
5 location in such manner as the commissioner requires.
6 Section 2. This Act shall become effective upon signature by the governor or, if not
7 signed by the governor, upon expiration of the time for bills to become law without signature
8 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
9 vetoed by the governor and subsequently approved by the legislature, this Act shall become
10 effective on the day following such approval.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Michelle Ridge.
DIGEST
SB 114 Original 2020 Regular Session Fields
Present law provides relative to the La. Check-Cashing Law and the licensure of
check-cashers.
Present law provides that no check-casher licensed or regulated under present law shall
directly or indirectly charge or collect fees for rendering currency exchange services in
excess of the following:
(1) Two percent of the total amount of the check presented for cashing or five dollars,
whichever is greater, for checks issued by or drawn upon the account of a public
welfare or public assistance agency of the U.S., the state, or any political subdivision
of the state.
(2) 10% of the total amount of the check presented for cashing or five dollars, which
ever is greater.
Proposed law reduces the fees as follows:
(1)One percent of the total amount of the check presented for cashing or one dollar,
whichever is greater, for checks issued by or drawn upon the account of a public
welfare or public assistance agency of the U.S., the state, or any political subdivision
of the state.
(2) Two and one-half percent of the total amount of the check presented for cashing or
two dollars, which ever is greater.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 6:1009)
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.