H.3778 (Redraft of H.223)

Call or e-mail your Representatives and tell them you support H.3778
(You can find out who your elected officials are by going to wheredoIvotema.com)

Terms of the bill:

(1) 1.5 per cent of the face value of the check plus a service charge of one dollar for any government check issued by the United States, the Commonwealth of Massachusetts or any political subdivision thereof. 

(2) 3 per cent of the face value of a payroll check 100 dollars or less plus a service charge of one dollar; 2.25 per cent of the face value of a payroll check greater than 100 dollars plus a service charge of one dollar.

(3) 5 per cent of the face value of the check or 5 dollars, whichever is greater, plus a service charge of one dollar, for all personal checks.

(4) 3 per cent plus a service charge of 1 dollar for all other payment instruments, including checks, drafts, or money orders.

(b) No check-casher licensed or subject to regulation under this chapter shall charge more than 5 dollars to set up an initial customer account. 

(5) An increase penalty of $1,000 per transaction for violating the new law.