Examination Planning Guidelines for Check Cashers

STATE OF LOUISIANA
OFFICE OF FINANCIAL INSTITUTIONS
BATON ROUGE, LOUISIANA
December 22, 2008 POLICY NO. CKC-01-08

EXAMINATION PLANNING GUIDELINES FOR CHECK CASHERS PURPOSE:
The purpose of this policy is to establish guidelines and set priorities for check casher compliance examinations of both the Louisiana Check Cashing Law and the Federal Bank Secrecy Act (“BSA”). TO WHOM THIS REGULATION APPLIES:
This policy applies to all field office personnel who perform check cashing compliance examinations. SPECIFICS: The frequency for performing compliance examinations is as follows:
1) Beginning in January, 2009, all locations will be examined using both the Louisiana
Check Cashing Law and BSA within the next three years; however, if a check casher location has been previously examined by the IRS/FinCEN for BSA, the Office of Financial Institutions (“OFI”) will perform only the “State Compliance” portion of the OFI check cashing examination. District offices will perform approximately one￾third of the total locations every year.
2) Newly issued licensed locations are to be examined within 120 to 180 days after
initial licensing.
The Commissioner may, at his discretion, require examinations more frequently should he find that the public safety or welfare is threatened.

John Ducrest, Commissioner