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Check Casher and Foreign Currency Exchanger Licensing
Statute: 32 M.R.S. § 6133
Bureau Rule Ch. 701
The State of Maine has enacted statutes regulating the activities of check cashers and exchangers of foreign currency (32 M.R.S. c. 80, § 6131 et seq.) requiring annual registration.
The provisions of the Act establish the following fee schedule for applicants and renewing applicants: Applicant: - $250; Each Additional Business Location - $100. Checks should be mailed, with the application, to the Bureau of Consumer Credit Protection, 35 State House Station, Augusta, ME 04333-0035 and should be made payable to: "Treasurer, State of Maine."
Bureau Rule Ch. 701 transitions check casher and currency exchanger registrations to the Nationwide Multistate Licensing System (NMLS). Click the button below (trusted partner link) to visit the NMLS Resource Center.
All Applicants must maintain liquid assets useable in the business of at least $10,000.