MS SB2683

Extends the maximum deferral period for delayed deposit checks (payday loans) from an unspecified period to exactly 30 days from the date the check is cashed

Increases the maximum fee check cashers can charge for delayed deposit checks to 15% of the face amount (up to $400 maximum loan amount)

Raises annual license renewal fees for check casher businesses from a previous amount to $600, paid to the Commissioner of Banking by September 1 each year

Increases examination fees charged to licensees from a previous amount to $600 per office location within Mississippi, with examinations limited to once every two years unless cause is shown

Effective date of July 1, 2011