District of Columbia § 26-317 Limitations on fees for cashing checks.

District of Columbia Statutes

§ 26-317 — Limitations on fees for cashing checks.

District of Columbia·Title 26 Banks and Other Financial Institutions.·Ch. 3 Check Cashers.

(1)Beginning January 1, 2011, no licensee under this chapter shall directly or indirectly charge any other fee, including late fees or other service fees, for accepting or cashing a payment instrument in excess of the greater of:

(A)Two percent of the face amount of the payment instrument or $3, if the payment instrument is issued by the federal government or a state or local government;

(B)Ten percent of the face amount of a payment instrument or $5, if the payment instrument is a personal check or money order; or

(C)Four percent of the face amount of the payment instrument or $5, for any other type of payment instrument.

(2)A licensee may charge a customer an additional one-time membership fee not to exceed $5.

(b)The fees for cashing a check shall be evidenced

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(1) Beginning January 1, 2011, no licensee under this chapter shall directly or indirectly charge any other fee, including late fees or other service fees, for accepting or cashing a payment instrument in excess of the greater of:

(A) Two percent of the face amount of the payment instrument or $3, if the payment instrument is issued by the federal government or a state or local government;

(B) Ten percent of the face amount of a payment instrument or $5, if the payment instrument is a personal check or money order; or

(C) Four percent of the face amount of the payment instrument or $5, for any other type of payment instrument.

(2) A licensee may charge a customer an additional one-time membership fee not to exceed $5.

(b) The fees for cashing a check shall be evidenced by a receipt. Such receipt shall be presented to the purchaser upon completion of the transaction.

District of Columbia § 26-317 (Limitations on fees for cashing checks.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

May 12, 1998, D.C. Law 12-111, § 18, 45 DCR 1782; Nov. 24, 2007, D.C. Law 17-42, § 2(b), 54 DCR 9988; Mar. 12, 2011, D.C. Law 18-315, § 2, 57 DCR 12412