NEWS on Payments

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ICBA, Groups Oppose New Remittance Fee

Feb 28, 2019
ICBA and other financial services groups expressed opposition to legislation that would subject U.S. remittance transfers to foreign countries to a 5 percent user fee.

In a joint letter, the organizations said the Fund and Complete the Border Wall Act (H.R. 85) would institute an ill-advised consumer tax on a legal and heavily regulated financial product used by millions of Americans.

Read the Joint Letter