Bill Type
Congress Name
Long Title
AN ACT TO REQUIRE CERTAIN DISCLOSURES IN CONNECTION WITH ANY INTERNATIONAL MONEY TRANSFER AND FOR OTHER PURPOSES
Date filed
May 7, 2008
Scope
Legislative History
| House Bill/Resolution NO. HB04070 |
| FULL TITLE : AN ACT TO REQUIRE CERTAIN DISCLOSURES IN CONNECTION WITH ANY INTERNATIONAL MONEY TRANSFER AND FOR OTHER PURPOSES |
| SHORT TITLE : "International Money Transfer Disclosure Act" |
| ABSTRACT : Requires all financial institutions that initiates an international money transfer on behalf of a consumer to make a good faith effort to provide the following information to the consumer before the consummation of the transaction: a) fees to be charged, b) itemization of all costs for the remittance, and c) the exact amount of foreign currency to be received by the recipient abroad. |
| PRINCIPAL AUTHOR/S : RODRIGUEZ, RUFUS B. |
| DATE FILED : 2008-05-07 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Villarosa (084 ) |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2008-05-12 |
Abstract
Requires all financial institutions that initiates an international money transfer on behalf of a consumer to make a good faith effort to provide the following information to the consumer before the consummation of the transaction: a) fees to be charged, b) itemization of all costs for the remittance, and c) the exact amount of foreign currency to be received by the recipient abroad.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.