Affordable Remittance Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 10057 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 10057 To require the Board of Governors of the Federal Reserve System to provide access to FedNow to affordable remittance providers, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES October 25, 2024 Mr. Torres of New York introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To require the Board of Governors of the Federal Reserve System to provide access to FedNow to affordable remittance providers, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Affordable Remittance Act''. SEC. 2. FINDINGS. Congress finds the following: (1) According to the Migration Data Portal, remittance payments support families across the globe and amount to $860,000,000,000 of global payments annually, which surpas…