currency exchanges

Check cashing signage
Eden, Janine and Jim / Flickr/ https://creativecommons.org/licenses/by/2.0/

A group of Illinois state legislators want to lower check cashing rates at currency exchanges — while the industry is pushing to raise those rates.

 

Last summer, the industry told Illinois’ financial regulator it hadn’t been allowed to increase service fees since 2007, and the time had come for a raise. 

www.planetofsuccess.com/blog

State financial regulators are recommending an increase in the fees that currency exchanges charge for cashing checks. Opponents say it will hurt Illinois' poorest residents.