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Louisiana – Check Casher License

Introduction

If you want to operate a check cashing business in Louisiana, you must be licensed through the Louisiana Office of Financial Institutions (OFI). This license ensures you meet the state’s legal standards for handling financial transactions.

 

Licensing Requirements

Louisiana requires a Check Casher License for any business that cashes checks, drafts, or money orders for a fee. To get licensed, you must:

  • Apply through the NMLS.

  • Provide personal, business, and financial details.

  • Submit to criminal background checks for owners and key employees.

  • Submit a copy of your lease (or proof of ownership) for each business location.

  • Disclose business plans, financial statements, and ownership structure.

  • Post clear signage showing check cashing fees.

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Regulations and Compliance

Louisiana regulates check cashing through detailed consumer protection laws. Some key rules include:

  • Fee caps: You can charge up to 2% of the face value of a government check or $1.00—whichever is greater. For other checks, fees are capped at 5% or $5.00.

  • You must verify customer identity.

  • You must provide receipts for all transactions.

  • All fees and charges must be clearly posted at the place of business.

  • You’ll also be subject to periodic audits by the state.

 

Processing Time

Applications typically take 4 to 6 weeks to process, assuming everything is complete and accurate. Delays can occur if additional documents are requested.

 

How We Can Help

We help Louisiana businesses get licensed the right way. Our services include:

  • Preparing your full Louisiana license application.

  • Helping you gather and organize supporting documents.

  • Developing custom policies and procedures.

  • Advising you on fee disclosures and signage requirements.

We’ll make sure you meet all OFI rules without wasting time or risking denials.

 

FAQs

Q: Can I operate more than one check cashing location with one license?
A: No. Each location must be individually licensed, even if owned by the same company.

 

Q: Are there limits on the types of checks I can cash?
A: Louisiana permits cashing government checks, payroll checks, and personal checks. You must post your policy and comply with fee caps for each type.

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