63 Pa. Stat. § 2302

Current through Pa Acts 2024-52, 2024-56

Section 2302 - Purpose

The General Assembly hereby finds and declares that check cashers which engage in the business of cashing checks provide vital financial services which some citizens of this Commonwealth find unavailable or inconvenient to obtain from traditional banking institutions and that it is in the public interest, convenience and welfare to:

(1) Prevent the charging of unconscionable rates.

(2) Insure the financial stability of the check-cashing industry.

(3) Regulate the manner of performance of check-cashing service.

(4) Seek the check-cashing industry's assistance in preventing money-laundering activities.

63 P.S. § 2302

1998, Feb. 18, P.L. 146, No. 22, § 102, effective in 60 days.