HI HB332

Requires all check cashers to register annually with the Department of Commerce and Consumer Affairs, including disclosure of principal office address, agent for service of process, and payment of registration fees.

Mandates check cashers offer customers a written voluntary payment plan at the time of origination of a third consecutive deferred deposit transaction, allowing customers to pay existing debt in at least six equal payments of no more than five percent of monthly pretax income, with a maximum $30 administration fee.

Restricts deferred deposit transactions to a maximum face amount of $600 with fees not exceeding 15 percent, limits deferral periods to 32 days maximum, and requires written confirmation that customers have no other outstanding deferred deposit transactions from any source.

Expands required customer notices to include 38-point type posting of APR rates, 24-hour rescission rights, warnings against long-term borrowing use, contact information for financial education services, and the check casher's registration certificate.

Removes the exemption for retail businesses that casually cash checks and requires the state auditor to conduct a sunrise analysis of payday lender regulation and consumer protection by 2020.