Check Cashing Act of 1995

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.