Wire Transfer Equity Act of 1998

[AI summary unavailable — showing source text] Wire Transfer Equity Act of 1998 - Amends the Electronic Funds Transfer Act with respect to the exchange rate a financial institution or money transmitting business uses for the currency of the country to which a transfer is made on behalf of a consumer. Prohibits such rate from exceeding by more than five percent the New York foreign exchange selling rate for such currency, as published in the Wall Street Journal on the last business day preceding the transaction date.…