DECLARATORY ACTION FILED REGARDING NEW CHECK CASHING RULE
An action was filed today in the Franklin County Court of Common Pleas regarding a new rule under the Ohio Check Cashing statute adopted by the Division of Financial Institutions with a May 1, 2010 effective date. The rule being challenged prohibits licensed check cashiers from charging or collecting a fee to cash a check issued by the check cashing business or an affiliate of the check cashing business in connection with a loan. The action seeks a preliminary injunction prohibiting the Division from enforcing the rule and a declaration that the new rule is in conflict with the statute and therefore invalid.
A hearing on the preliminary injunction is scheduled for Wednesday April 28, 2010 at 2 p.m. before Judge Charles Schneider.
- Darrell Dreher and Elizabeth Anstaett