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10 Pa. Code § 81.41. Examination of records.


§ 81.41. Examination of records.

 Under sections 104(2) and 506 of the act (63 P. S. § §  2304(2) and 2326), the Department has authority to examine the records of a check casher and to prescribe the records that will enable the Department to determine whether the check casher is complying with the act. A check casher operating two or more locations may maintain a consolidated or combined set of books and records at its principal office location in this Commonwealth. The books and records should reflect separate figures for each location. The books, accounts and records of the check casher shall be maintained for 5 years under section 506(a) of the act (63 P. S. §  2326(a)) and should be made available to Department examiners. The records should include the following:

   (1)  Receipts. The check casher should maintain a copy of the receipts provided to consumers for each check cashing transaction. The receipts should indicate the name and address of the check casher, transaction date, customer’s name, address and type of identification used, item number, date and amount of check cashed, fee charged and the employe’s initials. In lieu of placing the customer’s name, address and type of identification on the receipt, the check casher may assign an identification number to the customer, if a log is maintained by the check casher at the examination site.

   (2)  Daily record of checks cashed. The check casher should maintain a daily record of all checks cashed which should be reconciled to the deposit records received from each depository used by the check casher.

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