CALIFORNIA | LOCAL
October 9, 2009 |
She could have quit the business 20 years ago when her husband passed away, closed down the storefront when her children offered to care for her. Or Esperanza Serrano could have quietly slipped into retirement when she turned 62. But at 66 years old, she loved running her check-cashing business. From behind her glass window along the 3000 block of Martin Luther King Jr. Boulevard in Lynwood, she greeted a loyal clientele that she built over three decades. Buenos dias, DoÃ±a Esperanza!
March 4, 2009
Re "Reaching L.A.'s 'unbanked,' " Opinion, Feb. 25 Many residents in poor neighborhoods have learned the hard way that opening a bank account is very expensive -- often more so than relying on the neighborhood check-cashing store. I request copies of six months of bank statements to qualify a customer for a payday loan at one of my stores. As I review these statements, I see many nonsufficient funds fees, at $24 to $35 apiece. If a customer deposits a check and writes another check that is debited that same day, he is overdrawn, because the bank does not credit the deposit until the next day. That fee may result in his next check and the one after it also being charged.
June 21, 2007 |
Wal-Mart Stores Inc. said Wednesday that it would dramatically expand low-cost financial services such as check cashing and money transfers for its millions of customers who don't have bank accounts. The giant retailer, which this year dropped efforts to formally enter banking amid opposition from Congress and regulators, said it would open 1,000 Wal-Mart MoneyCenters by the end of next year, up from about 225 in stores now.
September 7, 2005 |
Wells Fargo & Co. announced Tuesday that it had settled a lawsuit over check-cashing fees by agreeing to make it easier for employees of small businesses to qualify for free checking accounts. The suit, filed by Chaffee Enterprises of Bakersfield, a paging services company, alleged that Wells Fargo's policy of charging non-customers $5 for each check cashed violated a 1911 California labor law that requires employers to provide a place where workers can cash paychecks for full face value.
January 7, 2005 |
Bank of America Corp. is close to settling a California consumer lawsuit over a $5 fee it charges to cash some paychecks. The suit, filed in April, claims that the fee charged to non-account holders cashing paychecks drawn on Bank of America accounts violates the California Labor Code, which requires that paychecks "be negotiable and payable in cash, on demand, without discount." The suit seeks a court order ending the practice as well as refunds on the fees already paid.
CALIFORNIA | LOCAL
September 17, 2004 |
Santa Ana police are searching for a man who robbed at least two check-cashing businesses this month while brandishing a cigarette lighter and what was believed to be a container of gasoline. In one robbery, he had a semiautomatic handgun in his waistband, police said. The man fled on a red bike. The robberies occurred in the 1200 block of South Bristol Street and in the 1700 block of East McFadden Street.