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HR 2637 108th Congress House

Wire Transfer Fairness and Disclosure Act of 2003

Official title: To amend the Electronic Fund Transfer Act to require additional disclosures relating to exchange rates in transfers involving international transactions.

Introduced: June 26, 2003 See on congress.gov
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 7, 2003
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jun 27, 2003
Sponsor introductory remarks on measure. (CR E1377-1378)
Jun 26, 2003
Referred to the House Committee on Financial Services.
Jun 26, 2003
Introduced in House
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 Latest action July 7, 2003

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service
Wire Transfer Fairness and Disclosure Act of 2003 - 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; (3) all commissions and fees charged in such transaction; and (4) the exact amount of foreign currency to be received by the consumer in the foreign country.

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.

Requires the Federal banking agencies and the Secretary of the Treasury to study and report to Congress on the need for fee disclosures for money wire transmissions.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 2
D
Sánchez, Linda T.
California · Oct 1, 2003
Bordallo, Madeleine
· Jun 26, 2003
 D
DeLauro, Rosa L.
Connecticut · Jun 26, 2003
FROST, MARTIN
· Jun 26, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2637: Wire Transfer Fairness and Disclosure Act of 2003. 108th Congress. Open America. https://openamerica.io/bill/108-HR-2637/
MLA
"H.R. 2637: Wire Transfer Fairness and Disclosure Act of 2003." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-2637/.
Bluebook (legal)
H.R. 2637, 108th Cong. (2026), https://openamerica.io/bill/108-HR-2637/.
Markdown link
[H.R. 2637: Wire Transfer Fairness and Disclosure Act of 2003](https://openamerica.io/bill/108-HR-2637/)
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