Archived SI output (machine-generated)

Remittance Consumer Protection Enforcement Act

Mode: Bill Generated by VFA SI Solutions Drafted: 2026.05.15

Archived SI output (machine-generated) · No editorial review recorded

This historical SI draft was machine-generated by software and has no editorial review time on record. Verify its factual and legal claims against the original source before relying on it.

Real bill

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Consumer Financial Protection Circular 2024-02: Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer".

External ID
HJRES/119/175
Policy area
Finance and Financial Sector
Latest action
2026-05-04
→ View original
Archived SI draft (machine-generated)

Remittance Consumer Protection Enforcement Act

To disapprove the Bureau of Consumer Financial Protection's withdrawal of its 2024-02 circular on deceptive marketing practices about the speed or cost of remittance transfers, reinstating the circular's protections for consumers.

Constitutional concerns with the original

This solution records no specific constitutional concern with the original action. Review the original text and cited provisions for legal analysis.

Solution text

This Act prohibits providers of remittance transfers from engaging in deceptive acts or practices in marketing the speed or cost of transfers, including false claims about delivery times or fees. It applies to all non-bank and bank providers operating in interstate or foreign commerce under the Electronic Fund Transfer Act. The Federal Trade Commission (FTC), in coordination with the Bureau of Consumer Financial Protection (CFPB), enforces this by issuing civil penalties up to $50,000 per violation, after notice and opportunity for hearing. Providers must disclose accurate speed and cost information in all advertisements using clear, standardized formats. The Act sunsets after five years unless reauthorized. Annual reports on enforcement actions go to Congress.

Operative provisions

funding source
Reallocated from existing FTC and CFPB annual appropriations under the Consumer Financial Protection Act.
funding amount
$8 million budget cap over 5 years ($1.6M/year)
sunset years
5
oversight body
Government Accountability Office (GAO) with semiannual audits and reports to House Financial Services and Senate Banking Committees
enforcement mechanism
FTC civil investigative demands and penalties, with CFPB advisory role; judicial review in U.S. Courts of Appeals
effective date
30 days after enactment

Bipartisan rationale

Honors Democratic priorities of strong consumer protections for immigrant and low-income remittance users against financial deception; honors Republican priorities of codifying rules into statute for clarity, limiting agency discretion, adding strict oversight, and sunset to control costs and federal scope.

Constitutional citations

  • → Article I, Section 8, Clause 3 (Commerce Clause for interstate/foreign remittance transfers)
  • → Article I, Section 8, Clause 18 (Necessary and Proper Clause for enforcement mechanisms)

Article I, Section 8, Clause 3 Article I, Section 8, Clause 18

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Generated by VFA SI Solutions · 2026.05.15 06:00 UTC · ← Back to the Republic