PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · May 13, 2003
International Money Transfer Disclosure Act - Directs certain Federal agencies to jointly prescribe regulations requiring a financial institution or money transmitting business which initiates an international money transfer on behalf of a consumer to make a good faith effort to disclose to the consumer before consummation of the transaction: (1) any fees to be charged to the recipient, including any exchange rate or currency conversion fees; (2) a final itemization of all costs to the consumer for the remittance; and (3) the exact amount of foreign currency to be received by the recipient in the foreign country.
Mandates that such disclosures take place in English and in the same language, if other than English, as the language principally used by the financial institution or money transmitting business to advertise, solicit, or negotiate at its office where the international money transfer is initiated.
People & committees
Rep. Gutierrez, Luis V. [D-IL-4] · D–IL
Legislative record
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Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Financial Services.
Sponsor introductory remarks on measure. (CR E941-942)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 18, 2025. Consult Congress.gov for the current record.
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