Question & Answer

Question: A few issues back you had an article on limits on what we could charge for cashing checks. Can you tell me where that information came from? We're having trouble finding anyone who knows anything about it in the state banking department.

Answer: That's one article I wish I had never written! I gleaned that information from the Consumer Federation of America. When I called them to verify the information, I was told the writer got the figures and facts from the state banking departments. But after I started getting calls similar to yours, I set out to verify them myself. New Jersey and Illinois no longer have the limits. We are still in the process of checking out the rest of the state banking departments.

Copyright © 1999 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 9, No. 4, 5/99