2020 Indiana Code
Title 28. Financial Institutions
Article 8. Financial Services
Chapter 5. Cashing Checks
28-8-5-17. Check Cashing Fee Limitations
Sec. 17. (a) Except as otherwise provided in this chapter, a licensee may not charge check cashing fees in excess of:
(1) the greater of ten dollars ($10) or ten percent (10%) of the face amount of a check, in the case of a personal check; or
(2) the greater of five dollars ($5) or five percent (5%) of the face amount of a check, in the case of all other checks.
(b) Except as provided in this chapter, a licensee or the licensee's agent may not accept multiple checks from a:
(1) person;
(2) person's spouse; or
(3) person's agent;
drawn on the person's account with the intent that the licensee may collect multiple or increased fees for cashing the checks.
As added by P.L.42-1993, SEC.86. Amended by P.L.80-1998, SEC.23; P.L.213-2007, SEC.88; P.L.217-2007, SEC.86.
