Senate bill prohibiting banks from charging fees to cash paychecks approved

Yesterday's David Lazarus column has an update on the issue of Wells Fargo and Bank of America banks charging fees to cash paychecks (see bottom half of column):

[T]he state Senate approved a bill last week that would prevent banks from charging a fee for people to cash their paychecks.

The state Senate voted 27-10 to approve SB1904, introduced by Sen. Dean Florez, a Central Valley Democrat and chairman of the Senate Banking Committee. The bill now goes to the Assembly.

As David notes, even if this bill becomes law, the banks will almost certainly challenge the law in court by claiming that federal law trumps and preempts state law on this issue. But it is progress!