Directs the superintendent of financial services to analyze the financial stability of the check cashing industry and review the current licensing.

The bill directs the superintendent of financial services to conduct an analysis of the financial stability of the check cashing industry and review the current system of licensing for such industry. The superintendent must issue reports on both topics to the governor, the chair of the assembly banks committee, and the chair of the senate banks committee within 180 days of the act's effective date. The superintendent must also consult with and receive input from check cashing licensees in the preparation of the analysis and report.

Directs the superintendent of financial services to analyze the financial stability of the check cashing industry and review the current licensing.

The bill directs the superintendent of financial services to conduct an analysis of the financial stability of the check cashing industry and review the current system of licensing for such industry. The superintendent must issue reports on both topics to the governor, the chair of the assembly banks committee, and the chair of the senate banks committee within 180 days of the act's effective date. The superintendent must also consult with and receive input from check cashing licensees in the preparation of the analysis and report.