Section 130.30  Maximum Rate − Check Cashing

a)         The Maximum Rate.  The maximum rate to be charged by community and ambulatory currency exchanges for cashing any check shall not exceed the following:

1)         For all checks $100 or less, an amount equal to 1.4% of the face amount of the check plus a service charge of $1.00;

2)         For all checks $100.01 or greater, an amount equal to 2.25% of the face amount of the check.

b)         Prohibition.  No community or ambulatory currency exchange may charge a fee for cashing any check in excess of the maximum rate as set forth in subsection (a).

(Source:  Amended at 32 Ill. Reg. 170, effective December 21, 2007)