PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · Apr 23, 1998
Wire Transfer Fairness and Disclosure Act of 1998 - Amends the Electronic Fund Transfer Act to require a financial institution or money transmitting business initiating an international money transfer on behalf of a consumer to disclose prominently on its premises and on its forms and receipts: (1) the exchange rate used in the transaction; (2) the exchange rate prevailing at a major financial center of the pertinent foreign country as of close of business on the business day immediately preceding the transaction date; and (3) all commissions and fees charged in such transaction. Requires such information to be: (1) included in print, broadcast, and electronic advertisements; and (2) in English and in the same language as principally used by the institution or money transmitting business to advertise, solicit, or negotiate at that office if other than English.
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 Banking and Financial Services.
Sponsor introductory remarks on measure. (CR E669-670)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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