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To: Banking and Financial
Services
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026
By: Representative Zuber
HOUSE BILL NO. 547
AN ACT TO AMEND SECTION 75-67-517, MISSISSIPPI CODE OF 1972, 1
TO AUTHORIZE A CHECK CASHING BUSINESS TO PASS A THIRD-PARTY 2
PROCESSING COMPANY'S FEES FOR THE USE OF A DEBIT OR CREDIT CARD ON 3
TO THE CUSTOMER; TO AMEND SECTION 75-67-619, MISSISSIPPI CODE OF 4
1972, TO AUTHORIZE A LICENSEE WHO IS AUTHORIZED TO PROVIDE CREDIT 5
AVAILABILITY TRANSACTIONS TO PASS A THIRD-PARTY PROCESSING 6
COMPANY'S FEES FOR THE USE OF A DEBIT OR CREDIT CARD ON TO THE 7
CUSTOMER; AND FOR RELATED PURPOSES. 8
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 9
SECTION 1. Section 75-67-517, Mississippi Code of 1972, is 10
amended as follows: 11
75-67-517. (1) Except as otherwise provided in this 12
section, notwithstanding any other provision of law, no check 13
cashing business licensed under this article shall directly or 14
indirectly charge or collect fees for check cashing services in 15
excess of the following: 16
(a) Three percent (3%) of the face amount of the check 17
or Five Dollars ($5.00), whichever is greater, for checks issued 18
by the federal government, state government, or any agency of the 19
state or agency of the state or federal government, or any county 20
or municipality of this state. 21
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(b) Ten percent (10%) of the face amount of the check 22
or Five Dollars ($5.00), whichever is greater, for personal 23
checks. 24
(c) Five percent (5%) of the face amount of the check 25
or Five Dollars ($5.00), whichever is greater, for all other 26
checks, or for money orders. 27
A licensee may not advance monies on the security of any 28
personal check unless the presenter attests that the check being 29
presented is drawn on a legitimate, open and active account. 30
Except as provided by Section 75-67-519, any licensee who cashes a 31
check for a fee shall deposit the check not later than three (3) 32
business days from the date the check is cashed. 33
(2) The provisions of subsection (1) of this section shall 34
not include the fees charged by a third-party processing company 35
for the use of a debit or credit card. A check cashing business 36
licensed under this article may pass the third-party processing 37
company's fees on to the customer, if such business provides clear 38
and conspicuous notice to all customers that such fees will be 39
applied to debit and credit card transactions. Such notice must 40
be provided before the customer completes the transaction and must 41
include: 42
(i) The amount of the fee; 43
(ii) That the fee is for the use of a debit or 44
credit card; and 45
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(iii) The type of payment methods to which the fee 46
applies. 47
(c) The amount of the fee identified under this 48
subsection (2) shall be limited to the single transaction cost 49
charged by the third-party processor to the check cashing business 50
for the use of a credit or debit card. 51
SECTION 2. Section 75-67-619, Mississippi Code of 1972, is 52
amended as follows: 53
75-67-619. (1) Notwithstanding any other statutory 54
limitation, a licensee authorized to provide credit availability 55
transactions under this article may charge and collect fees and 56
charges in a manner consistent with this section, and may take as 57
security therefor any personal property that is not exempt or 58
prohibited by state or federal law or regulations. 59
(2) (a) A licensee may charge and collect a monthly 60
handling fee for services, expenses, and costs not to exceed 61
twenty-five percent (25%) of the outstanding principal balance of 62
any credit availability account per month, or any portion thereof, 63
for transactions of Five Hundred Dollars ($500.00) or less. The 64
handling fee shall not be deemed interest for any purpose of law. 65
(b) A licensee may charge and collect a monthly 66
handling fee for services, expenses, and costs not to exceed 67
twenty-five percent (25%) of the outstanding principal balance of 68
any credit availability account per month, or portion thereof, for 69
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transactions in excess of Five Hundred Dollars ($500.00). The 70
handling fee shall not be deemed interest for any purpose of law. 71
(c) (i) In addition to the charges authorized under 72
this subsection (2), a licensee may also charge and collect an 73
origination fee in the amount of one percent (1%) of the amount 74
disbursed to the account holder or Five Dollars ($5.00), whichever 75
is greater, for costs associated with providing a credit 76
availability transaction. 77
(ii) The origination fee shall not be deemed 78
interest for any purpose of law. 79
(3) (a) No credit availability account created under 80
subsection (2)(a) of this section shall have an outstanding 81
principal balance in excess of Five Hundred Dollars ($500.00) at 82
any time. 83
(b) No credit availability account created under 84
subsection (2)(b) of this section shall have an outstanding 85
principal balance in excess of Three Thousand Two Hundred Fifty 86
Dollars ($3,250.00) at any time. 87
(c) Beginning with calendar year 2025 and for each 88
subsequent calendar year, on or before July 1 of the following 89
year, the Mississippi Department of Banking and Consumer Finance 90
shall issue a memo authorizing a new maximum outstanding principal 91
balance permitted under paragraph (b) of this subsection. The new 92
amount will be calculated by applying any increase or decrease in 93
the United States Bureau of Labor Statistics Consumer Price Index 94
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for All Urban Consumers (CPI-U) for the previous calendar year to 95
the previous maximum outstanding principal balance and rounding 96
that amount upward to the nearest Ten Dollar ($10.00) increment. 97
(4) (a) Any credit availability account created under 98
subsection (2)(a) of this section shall be a fully amortized loan, 99
secured or unsecured, payable in equal payments of four (4) to six 100
(6) months calculated on the amount initially disbursed to the 101
account holder plus any fees that may be charged, in an amount and 102
manner provided for under this article. 103
(b) Any credit availability account created under 104
subsection (2)(b) of this section shall be a fully amortized loan, 105
secured or unsecured, payable in equal payments of six (6) to 106
twelve (12) months calculated on the amount initially disbursed to 107
the account holder plus any fees that may be charged, in an amount 108
and manner provided for under this article. 109
(5) In the event an account holder is delinquent in payment 110
of a monthly payment under the terms of a credit availability 111
agreement, the licensee may charge and collect from the account 112
holder a late fee of ten percent (10%) of the past-due amount; 113
provided, however, that no such late fee may be charged unless an 114
account holder has failed to pay the past-due amount within ten 115
(10) business days after the due date and provided that such fees 116
are clearly disclosed in the credit availability agreement. 117
(6) In the event an account holder is in default under the 118
terms of a credit availability agreement for more than sixty (60) 119
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days, the licensee may charge and collect from the account holder 120
the following fees in connection with any such default, provided 121
that such fees are clearly disclosed in the credit availability 122
agreement: 123
(a) If the licensee is required to employ a third 124
party, including an attorney, to collect on the account the 125
licensee may: 126
(i) If the credit availability agreement so 127
provides, charge and collect a reasonable collection fee and 128
attorney's fee; and 129
(ii) If the credit availability agreement so 130
provides, shall be entitled to recover from the account holder all 131
court costs incurred and to recover any court-awarded damages, 132
including those incurred on appeal. 133
(b) If applicable, the licensee may charge and collect 134
from the account holder any fees and costs relating to the 135
repossession and sale of collateral, including, but not limited 136
to, fees and costs associated with the repossession, storage, 137
preparation for sale and sale of collateral. 138
(7) (a) The provisions of subsections (1) through (6) of 139
this section shall not include the fees charged by a third-party 140
processing company for the use of a debit or credit card. 141
(b) A licensee authorized to provide credit 142
availability transactions under this article may pass the 143
third-party processing company's fees on to the customer, if such 144
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ST: Check cashers and MS Credit Availability
licensees; authorize to pass credit/debit card
fees to customers.
licensee provides clear and conspicuous notice to all customers 145
that such fees will be applied to debit and credit card 146
transactions. Such notice must be provided before the customer 147
completes the transaction and must include: 148
(i) The amount of the fee; 149
(ii) That the fee is for the use of a debit or 150
credit card; and 151
(iii) The type of payment methods to which the fee 152
applies. 153
(c) The amount of the fee identified under this 154
subsection (7) shall be limited to the single transaction cost 155
charged by the third-party processor to the licensee authorized to 156
provide credit availability transactions for the use of a credit 157
or debit card. 158
SECTION 3. This act shall take effect and be in force from 159
and after July 1, 2026. 160