Check Time, a check cashing service center in Brooklyn New York on December 8, 2023. Photo: Ryland West/ALM NY Judge Maintains State Regulators' Curb on Check-Cashing Rate Fee
It was enough of a reduction to put many check-cashing companies out of business, since they operate on such slim margins in an already struggling industry, the claim argued.
December 08, 2023 at 03:33 PM
4 minute read
Financial Services and Banking
New York financial regulators' rule change that curbed the profits check-cashing companies may reap, with the state untethering the formula from inflation after nearly 20 years, has survived a legal challenge by industry represented by Big Law attorneys.
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