Enacts the "community financial services access and modernization act" to update regulations for check cashing businesses.

The bill modernizes the existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments. It provides a comprehensive regulatory framework for the delivery of expanded financial services. The superintendent of financial services is authorized to establish fees for cashing checks, drafts, or money orders. Licensees must maintain certain liquid assets and keep detailed records. The bill also sets rules for the issuance, revocation, and relocation of licenses.

Enacts the "community financial services access and modernization act" to update regulations for check cashing businesses.

The bill modernizes the existing statute to reflect the full scope of financial services available at neighborhood "check cashing" establishments. It provides a comprehensive regulatory framework for the delivery of expanded financial services. The superintendent of financial services is authorized to establish fees for cashing checks, drafts, or money orders. Licensees must maintain certain liquid assets and keep detailed records. The bill also sets rules for the issuance, revocation, and relocation of licenses.