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124 STAT. 2060 PUBLIC LAW 111–203—JULY 21, 2010

12 USC 1701x (b) APPLICABILITY.—Amendments made by subsection (a) shall
note. not apply to programs authorized by section 1132 of the Housing
and Economic Recovery Act of 2008 (12 U.S.C. 1701x note) that
are funded with appropriations prior to fiscal year 2011.

12 USC 5601. SEC. 1073. REMITTANCE TRANSFERS.
(a) TREATMENT OF REMITTANCE TRANSFERS.—The Electronic
Fund Transfer Act (15 U.S.C. 1693 et seq.) is amended—
(1) in section 902(b) (15 U.S.C. 1693(b)), by inserting ‘‘and
remittance’’ after ‘‘electronic fund’’;
(2) in section 904(c) (15 U.S.C. 1693b(c)), in the first sen-
tence, by inserting ‘‘or remittance transfers’’ after ‘‘electronic
fund transfers’’;
15 USC (3) by redesignating sections 919, 920, 921, and 922 as
1693p–1693r, sections 920, 921, 922, and 923, respectively; and
1693 note. (4) by inserting after section 918 the following:

15 USC 1693o–1. ‘‘SEC. 919. REMITTANCE TRANSFERS.
‘‘(a) DISCLOSURES REQUIRED FOR REMITTANCE TRANSFERS.—
‘‘(1) IN GENERAL.—Each remittance transfer provider shall
make disclosures as required under this section and in accord-
ance with rules prescribed by the Board. Disclosures required
under this section shall be in addition to any other disclosures
applicable under this title.
‘‘(2) DISCLOSURES.—Subject to rules prescribed by the
Board, a remittance transfer provider shall provide, in writing
and in a form that the sender may keep, to each sender
requesting a remittance transfer, as applicable to the trans-
action—
‘‘(A) at the time at which the sender requests a remit-
tance transfer to be initiated, and prior to the sender
making any payment in connection with the remittance
transfer, a disclosure describing—
‘‘(i) the amount of currency that will be received
by the designated recipient, using the values of the
currency into which the funds will be exchanged;
‘‘(ii) the amount of transfer and any other fees
charged by the remittance transfer provider for the
remittance transfer; and
‘‘(iii) any exchange rate to be used by the remit-
tance transfer provider for the remittance transfer,
to the nearest 1/100th of a point; and
‘‘(B) at the time at which the sender makes payment
in connection with the remittance transfer—
‘‘(i) a receipt showing—
‘‘(I) the information described in subparagraph
(A);
‘‘(II) the promised date of delivery to the des-
ignated recipient; and
‘‘(III) the name and either the telephone
number or the address of the designated recipient,
if either the telephone number or the address of
the designated recipient is provided by the sender;
and
‘‘(ii) a statement containing—

LAWS ‘‘(I) information about the rights of the sender under this section regarding the resolution of errors; andPUBLIC with on anorris VerDate Nov 24 2008 10:40 Sep 02, 2010 Jkt 089139 PO 00203 Frm 00686 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 APPS06 PsN: PUBL203