The bill amends the Code of West Virginia to prohibit merchants from charging fees for cashing checks issued by state or federal governmental entities. It specifies that while merchants can offer check cashing services and charge fees for them, these fees cannot be applied to checks from governmental sources. The maximum fee that can be charged for cashing other checks remains at either $1 or one percent of the check's face value, whichever is greater.

Additionally, the bill clarifies that merchants deriving more than five percent of their gross revenues from check cashing must be licensed, and it reiterates that no license is required for those providing check cashing services in accordance with the specified regulations. The legislation aims to protect consumers from additional costs when cashing checks from governmental entities, ensuring that such transactions remain fee-free.

Statutes affected:
Introduced Version: 32A-3-1