1. (a) This subtitle does not apply to check cashing services:

   1. (1) In which a customer presents a payment instrument for the exact amount of a purchase; or
   2. (2) Involving foreign currency exchange services or the cashing of a payment instrument drawn on a financial institution other than a federal, State, or other state financial institution.

2. (b)

   1. (1) This subtitle does not apply to a transaction that is subject to the Maryland Consumer Loan Law (Title 12, Subtitle 3 of the Commercial Law Article and Title 11, Subtitle 2 of this article), including a transaction in which an additional fee is charged to defer the presentment or deposit of a payment instrument until a subsequent date.

   2. (2) A check cashing service is not subject to the Maryland Consumer Loan Law if:

      1. (i) The fee charged for the check cashing service does not exceed the fee permitted under this subtitle;
      2. (ii) No additional fee is charged to defer the presentment or deposit of the payment instrument; and
      3. (iii) The check cashing service is not subject to renewal or extension by any means.

Added by Acts 2000, c. 614, § 2, eff. Oct. 1, 2000. Amended by Acts 2020, c. 443, § 1, eff. Oct. 1, 2020; Acts 2020, c. 444, § 1, eff. Oct. 1, 2020.