HI HB2447

Requires check cashers to post notices in 38-point type detailing fees, annual percentage rates for deferred deposits, complaint procedures, and information about financial counseling and credit resources.

Mandates written notice in 16-point type to each customer including fees, APR, complaint procedures, availability of extended repayment plans after four consecutive transactions, 24-hour rescission rights, and financial education resources.

Caps cumulative fees on deferred deposit transactions at an annual percentage rate not to exceed 36 percent (existing limit of 15 percent of check face amount retained).

Establishes payment plan options: interest-free plans up to 90 days for non-default customers (with $30 administrative fee), mandatory interest-free plans for defaulting customers with minimum 60-day terms, and extended repayment plans after four consecutive transactions if requested within 24 hours.

Removes retailers from the exemption to check cashing laws, meaning retail businesses that cash checks are now subject to the full regulatory framework.