STATE OF MICHIGAN DEPARTMENT OF COMMERCE BANKING INSTITUTIONS BUREAU

STATE OF MICHIGAN DEPARTMENT OF COMMERCE BANKING INSTITUTIONS BUREAU

IN RE: REQUEST BY OAK BROOK/CASH NOW PARTNERS d/b/a MONEY CONNECTION FOR A DECLARATORY RULING IN THE APPLICABILITY OF THIS REGULATORY LOAN ACT OF 1963, AS AMENDED, TO CERTAIN TRANSACTIONS.

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Oak Brook/Cash Now Partners d/b/a Cash Connection (“Cash Connection”) is a company that operates within the greater metropolitan Detroit area. Its main activity is cashing checks for a charge, as well as other ancillary solutions include issuance of cash sales, giving and getting Western Union cash transfers, along with other associated solutions. Money Connection has required a ruling on an ongoing solution this is certainly a variation on its check cashing business.

In its normal check cashing company money Connection will cash payroll, federal federal federal government, and private checks for the fee of 10% regarding the level of the check. Continue reading “STATE OF MICHIGAN DEPARTMENT OF COMMERCE BANKING INSTITUTIONS BUREAU”