Check-cashing organizations (CCOs) are small organizations that cash checks for a fixed fee. There are an estimated 13,000 check-cashing outlets in the U.S., cashing more than $80 billion worth of checks annually. Some 80 to 90 percent of these are payroll checks with an average size of $500 to $600. The remainder are largely government benefits, income-tax-refund, and personal checks. While fees vary by state and by store, Financial Service Centers of America (FISCA), an industry trade group representing CCOs and payday lenders, estimates national annual check cashing revenues at over $1.6 billion.