STAND. COM. REP. NO.  1130

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 483

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No. 483, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO CHECK CASHING,"

begs leave to report as follows:

     The purpose of this bill is to protect the people of Hawaii from unscrupulous financial services by requiring the Department of Commerce and Consumer Affairs (DCCA) to regulate the check cashing industry through licensing requirements.

     The Legal Aid Society of Hawaii and Aloha United Way testified in support of this bill.  DCCA, The Hawaii Alliance for Community-Based Economic Development, and Advanced Payday testified in support of the intent of this measure.  The Department of Taxation opposed this bill.  The Financial Service Providers of Hawaii submitted comments on this measure.

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 483, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

MARCUS R. OSHIRO, Chair