A Question for the Experts

[Ronvandyn]

So, my wife use to work in one of those payday advance places and has told me that they are required to adhere to many of the nations banking laws.  It si my experience that few of these places (none that I have seen) have "No CCW" signs. 

Are they off-limits as banking institutions? 

Ron

[A-FIXER]

A thought: To me if they were backed by the F.D.I.C. then they would be regulated by the Federal guidelines/ and or/Laws other than that as you stated....
 

they are required to adhere

must be a company policy but again this is just my point of view.

[SemperFiGuy]

Not an Expert, by Any Means, but Here's What it Sez in the Bible:

TITLE 272, NEBRASKA ADMINISTRATIVE CODE, CHAPTER 21

018 PROHIBITED PLACES AND PREMISES
018.01 A permit holder may carry a concealed handgun anywhere except [among scores of other places as well...]
.........................
018.01G Financial institutions as defined by Nebraska Revised Statutes § 8-101(12);
.........................

And Here's What it Sez in
8-101(12) Financial institution means a bank, savings bank, building and loan association, savings and loan association, or credit union, whether chartered by the United States, the department, or a foreign state agency; any other similar organization which is covered by federal deposit insurance; or a trust company;

Wouldn't appear that the Check Cashery is covered as a Prohibited Place and Premise.  FDIC-regulated organizations usually have an FDIC decal pasted on the window.   Never seen one at a Check Cashery.   But then, I don't actually GO there....Just drive by.

What's Your Own Interpretation???

[By the way, Nebraska State Patrol sez we should always consult a lawyer to resolve these issues.

   I'm not a lawyer...
      Never been one.....
          Never wanted to be one......]


sfg

[Mudinyeri]

As I read the Administrative Code, the FDIC has nothing to do with whether or not an organization is a "financial institution".

FWIW, I work in banking and check-cashing businesses are categorized as "money service businesses" (MSB's).  Also, FWIW, FinCEN - one of the many government bodies with which bankers must deal - does not consider banks, as described by FinCEN's 31 CFR 1010.100(d), a MSB.

Clear as mud?

[bkoenig]

I agree, if it's not a federally or state chartered bank I would not consider it a financial institution covered by the CCW laws.

[Dan W]

Semper fi guy nailed it

banned places...

018.01G Financial institutions as defined by Nebraska Revised Statutes § 8-101(12);
.........................

And Here's What it Sez in
8-101(12) Financial institution means a bank, savings bank, building and loan association, savings and loan association, or credit union, whether chartered by the United States, the department, or a foreign state agency; any other similar organization which is covered by federal deposit insurance; or a trust company;

organization which is covered by federal deposit insurance; or a trust company;

how could this not mean FDIC?

[bullit]

I see nothing disallowing CHP carries in the "Check Cashing" facilities.  Remember, banks are disallowed by our (Nebraska) statute.  This does not apply to all states e.g. Texas.  I would assume the "adherence" to banking laws would apply to usuary rules, loan paperwork, Dodd-Frank, etc. 

[NE Bull]

Whew! I hope so, I have been known to use one of these 'legal check floating' businesses (for gotta have purchases, well, such as guns, motorcycle, ) I always felt 'nervous' walking in/out of there. I mean anybody whose anybody knows you are either walking IN with cash, or OUT with cash. And I know for a fact a couple here in Lincoln have been robbed before. 

[SemperFiGuy]

The NAC very clearly and plainly says, in everyday American English............

                 ".........covered by federal deposit insurance"......

As in FEDERAL DEPOSIT INSURANCE CORPORATION

So---If there's an FDIC sticker in the window, on the door, or an employee's forehead, DON'T PACK IN THAT PLACE!!!!!.


It's as clear as what the meaning of IS is.


sfg

[DaveB]

Check cashing places are loan sharks, not banks. You can deposit money into a bank and get it back later.

[Mudinyeri]

Semper fi guy nailed it

banned places...


organization which is covered by federal deposit insurance; or a trust company;

how could this not mean FDIC?

Are you asking me?  If so, re-read what I wrote.  Federal Deposit Insurance is a program offered to federally-chartered banks but it does not make them a bank (or financial institution).  There may be a correlation but it's not a causal relationship.

Moreover FDIC coverage is one of several qualifying criteria - not the only one.  So, a "similar organization" (similar to the list of organizations preceding the 'similar' statement) that is covered by the FDIC is added to the list by the statement following the semi-colon.

[bkoenig]

Whew! I hope so, I have been known to use one of these 'legal check floating' businesses (for gotta have purchases, well, such as guns, motorcycle, ) I always felt 'nervous' walking in/out of there. I mean anybody whose anybody knows you are either walking IN with cash, or OUT with cash. And I know for a fact a couple here in Lincoln have been robbed before. 

I know a guy who worked at one in college.  He was pretty much always on edge expecting to be robbed.  You're behind bulletproof glass but that doesn't mean they can't wait by the back door for a shift change.

[OnTheFly]

If FDIC is one of several inclusive criteria defining an institution where CC is prohibited, then a check cashing business would not be considered such...IMHO.  To have FDIC you must accept deposits, and these businesses are only loaning money.

On a side note, when I worked as a consumer credit counselor18 years ago, these types of "check cashing" businesses had a very hard time collecting on bad checks.  The attorney (general, county, state?) would resist filing charges against people who wrote the checks.  Normally when a check is written, the legal assumption is that the check is backed by funds in the account.  However, the checks written for a loan were accepted knowing that there was not sufficient funds in the account.  Not sure how/if that has changed over the years.

Fly

[CitizenClark]

On a side note, when I worked as a consumer credit counselor18 years ago, these types of "check cashing" businesses had a very hard time collecting on bad checks.  The attorney (general, county, state?) would resist filing charges against people who wrote the checks.  Normally when a check is written, the legal assumption is that the check is backed by funds in the account.  However, the checks written for a loan were accepted knowing that there was not sufficient funds in the account.  Not sure how/if that has changed over the years.

Fly

Yet another reason why they charge high interest at those places. They are making high-risk loans!

[SemperFiGuy]

Lest We Stray Too Far From the Initial Operative Question............

Which appears to be:   Can a CHP/CCW holder carry a concealed handgun in a check-cashing facility???

All information presented so far seems to indicate that concealed carrying is permitted at a check-cashing facility.    [Unless they are otherwise properly posted NO CCW according to NSP recommendations.]

And--based on input from some of the later forum posts on this topic--probably a good idea.

sfg

[bullit]

Always keep in mind that oft quoted phrase....."Concealed mean concealed"

[SemperFiGuy]

Q:    Are you Packin'?

A:     If you Can't tell, I'm Not Tellin'.


sfg

[Ronvandyn]

I know a guy who worked at one in college.  He was pretty much always on edge expecting to be robbed.  You're behind bulletproof glass but that doesn't mean they can't wait by the back door for a shift change.

It was a major worry for me.  The one my wife worked in had no armored glass, no steel doors, just a counter and a time-lock safe.  I nearly had her talked into getting her CHP, but then the boss pissed her off real bad and she quit.  So much for that idea.  I taught her to shoot when we first got married, and she is a dam good shot, but honestly has no interest in guns. 

Ron