The 2007 Legislature passed the Oregon Check-Cashing Act (Chapter 358, 2007 Laws), requiring licensing and regulation of businesses engaged in check-cashing. Check-cashing businesses must be licensed by the Department of Consumer and Business Services (DCBS) starting January 1, 2008. This regulation affects businesses that cash a check, warrant, or draft for a fee or service charge. The law also limits the fees licensees may charge (see maximum fees). Licensees must conspicuously post their license and their check-cashing fees.
The law prohibits check-cashing businesses from disseminating misleading or deceptive information or operating their business at unlicensed locations.
The DCBS Director is authorized to issue civil penalties for violations and order restitution of excess fees charged to consumers.
As of March 31, 2009, 304 check cashing businesses were licensed.
Application information
Application materials to be printed and mailed are currently available through the links below. We are in the process of developing an application online that you will be able to submit electronically. To be notified when the online application is ready, please sign
up for email updates to this page.
Forms
Check-cashing annual report 440-4803
last updated: 05/22/2008 |
PDF
| Word
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Check-cashing business initial license application (for businesses with a current consumer finance or pawnbroker license) 440-4770
last updated: 06/02/2008 |
PDF
| Word
|
Check-cashing business initial license application (for businesses without a current consumer finance or pawnbroker license) 440-4771
last updated: 06/02/2008 |
PDF
| Word
|
If you have any problems completing the application, please contact DFCS staff at CheckCashing.DFCS@state.or.us or 503-378-4140.
NOTE: Please allow at least 2 weeks for your application to be processed and a license to be mailed to you.
Licensing exemptions
Money Transmitters operating under a valid Oregon license
do not have to be licensed. However, licensed Money Transmitters do have
to comply with the limits on fees charged, fee posting requirements, record
keeping, and other requirements of the law. This exemption does not apply
to the authorized delegates of licensed money transmitters - these businesses
must be licensed to cash checks.
Banks do not have to be licensed and are not subject to the fee limits
or record-keeping requirements.
Credit unions do not have to be licensed as check-cashing businesses,
but are subject to the check-cashing fee limits of ORS 697.520.
Persons engaged in the bona fide retail sale of goods or services and
not purporting to be a check-cashing business when check-cashing transactions
represent less than 3 percent of total retail transactions. Retailers
that do check-cashing as incident of or independent of a retail sale
or service and cannot charge more than the greater of $2 or 2 percent
of the face value of the check.
Statutes and Administrative Rules
