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CHECK EXPRESS ANNOUNCES SETTLEMENT AGREEMENT

 TAMPA, Fla., May 21 /PRNewswire/ -- Check Express, Inc. (NASDAQ: CHXS), owner, operator and franchisor of retail check cashing centers, today announced that it has reached a settlement agreement with the Department of the Treasury relating to alleged violations of currency transaction reporting requirements as required by the Bank Secrecy Act for certain transactions in excess of $10,000 during the years 1986 to 1989.
 The company had issued a prior press release on March 10 regarding the matter.
 The settlement agreement stipulates the following: "Check Express disputes any willful failure to comply with the Act and Regulations and denies any liability to the United States, but agrees to pay Treasury the sum of $20,000 within five (5) business days of the date of final and complete execution of this Settlement Agreement in order to resolve this controversy."
 Larry Lang, president and CEO of Check Express, stated, "The company believes that this matter should have been settled without penalty; however, management determined that the time and expense which would have been involved did not warrant the company's continued efforts to prevail on its position." Lang also noted that Treasury had informed the company that subsequent audits of Check Express indicated that the company has been in compliance with the Act since 1989.
 Check Express currently operates 59 company and franchised retail money centers which provide check cashing, money orders, money transfers, electronic tax filing and related services.
 -0- 5/21/93
 /CONTACT: Larry F. Lang of Check Express, 813-289-2888/
 (CHXS)


CO: Check Express, Inc.; Department of the Treasury ST: Florida IN: REA SU:

BN-BR -- AT003 -- 1116 05/21/93 09:50 EDT
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Publication:PR Newswire
Date:May 21, 1993
Words:272
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