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Check Cashing Act of 1995

Introduced: March 1, 1995 Introduced by: Fields, Cleo Democratic · Louisiana See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 1995
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Mar 1, 1995
Referred to the House Committee on Banking and Financial Services.
Mar 1, 1995
Sponsor introductory remarks on measure. (CR H2402)
Mar 1, 1995
Introduced in House
 Plain-English summary Congressional Research Service

Check Cashing Act of 1995 - Requires any person other than a depository institution to obtain a State license or registration as a prerequisite to conducting a check cashing business.

Prescribes guidelines under which the Federal Trade Commission may approve a State check cashing business licensing or registration system.

Cites circumstances under which an insured depository institution or (with respect to its members) credit union may not refuse to cash a government check presented by a payee.

Declares that the National Credit Union Administration Board may not prohibit any federally chartered (community development) credit union from dispensing benefits under a Federal or State assistance program that are authorized to be dispensed by a check cashing service.

Directs the Comptroller General to study and report to the Congress on: (1) the effectiveness of the dispensation of benefits under Federal and State assistance programs through federally chartered credit unions; and (2) the effects of requiring the use of a debit card system for making all federal benefit payments, as well as other innovative ways to upgrade current methods by which the Federal Government delivers benefit payment checks.

What's happening now March 10, 1995

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Committees of jurisdiction 2