Bill Summary: Community Financial Services Access and Modernization Act of 2017

• Replaces the term "casher of checks" with "financial services provider" throughout banking law to reflect expanded services including check cashing, money transmission, bill payment services, prepaid debit card sales, and business/commercial loans.

• Establishes a master license and supplemental license system allowing existing licensees in good standing to expedite applications for additional locations, reducing regulatory burden for expansion.

• Authorizes financial services providers to offer "conduit services" in collaboration with banks and credit unions, including business and commercial loans, account access services, and bill payment services, subject to state usury laws.

• Increases the maximum check amount that can be cashed from $15,000 to $25,000, while maintaining restrictions on post-dated checks and requiring same-day or next-business-day deposits.

• Creates new reporting requirements for licensees offering business and commercial loans, with annual submissions to the superintendent beginning January 1, 2019, regarding loan volume, default rates, and average costs; superintendent must report findings to governor and legislature by April 1, 2019 and annually thereafter.

• Sunsets amendments regarding business and commercial lending authority and reporting requirements on June 30, 2022.