check cashing

Timeline: Currency Exchange Rate Increase

February 10 – the Community Currency Exchange Association of Illinois (CCEA) submitted a petition to the Illinois Department of Financial & Professional Regulation (IDFPR) to increase the check cashing rate cap

March 10 – IDFPR accepted CCEA’s petition and the first hearing was scheduled

May 9 – Public hearing in Chicago on the industry’s petition to increase the maximum allowable rate that may be charged for check cashing

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