WASHINGTON — Representatives of the check-cashing business warned lawmakers on Wednesday that passing legislation that creates more regulatory barriers could stall business, eventually hurting consumers who lack bank accounts with depository institutions.

Three representatives of what is referred to as the money services business testified before a subcommittee of the House Financial Services Committee. The hearing was held to examine how the money services business, which also includes currency exchange and bill pay services, are regulated at the state and federal levels.

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