INTERPRETIVE LETTERS - CHECK CASHER LICENSING ACT
The Department of Banking and Securities uses interpretive letters to provide guidance and clarification of its position on an issue at the time. You should contact your attorney for legal advice regard the Check Casher Licensing Act
09/02/05Payroll Debit Cards
Letter states that license is not required under the CCLA or MTA to conduct payroll debit card program
05/13/05Gift Cards Issued by Retail Stores
Letter states that retailer offering gift cards in a “closed system” is not required to be licensed under the Check Casher Licensing Act or Money Transmitter Act, and is not engaging in the business of accepting money for deposit or transmission within the meaning of Section 105 of the Banking Code.