International Remittances: Information on Products, Costs, and Consumer Disclosures (Google eブックス)
DIANE Publishing, 2006/04/01 - 58 ページ
Remittances (RE) are personal funds immigrants send to their home countries. The majority of these RE are sent to Latin Amer. & the Caribbean & they are a very important source of financial flows to many countries. In 2004, the U.S., with other countries, pledged to reduce fees for RE. RE senders in the U.S. can send funds through entities in the formal financial sector such as money transfer operators, banks, & credit unions or other informal means such as couriers. This report provides info. on: the methods of transmission available to RE senders in the formal financial sector & the advantages & disadvantages of each; the costs to send RE through the formal financial sector; & disclosures RE providers typically provide to senders. Illus.
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$300 to Mexico account holders account-based transfers account-to-account transfers account-to-cash additional Additionally agent location amount bank account bank offering banks and credit banks we spoke BBVA Bancomer Caribbean cash cash-to-cash product Central Bank charged costs and error currency customers Directo a Mexico disclose disclosure requirements dual ATM cards electronic fund transfer error resolution exchange rate offered exchange rate spread Federal Reserve fees in U.S. fees to send foreign exchange commission formal financial sector hawalas Inter-American Dialogue IRnet Latin America Mexican Mexico service Money Transmitters MoneyGram MTOs we spoke offering remittance services officials percent Philippines phone number provider and product providers we spoke range of transfer receiving countries remittance market remittance products remittance providers remittance recipient remittance senders remittance transaction send funds send money send remittances spoke with told stored value card total cost transfer fees U.S. banks U.S. dollars unions we spoke United USPS value transfer systems wire transfer
50 ページ - We determined that the data were sufficiently reliable for the purposes of this report. We performed our review from June 2003 through May 2004 in accordance with generally accepted government auditing standards.
46 ページ - Administration, and other interested parties and will make copies available to others upon request. In addition, the report will be available at no charge on the GAO Web site at http://www.gao.gov. If you or your staff have any questions regarding this report, please contact me at (202) 512-8678 or email@example.com.
46 ページ - Contact points for our offices of Congressional Relations and Public Affairs may be found on the last page of this report.
48 ページ - FEDERAL FINANCIAL INSTITUTIONS REGULATORY AGENCIES. — The term "Federal financial institutions regulatory agencies" means the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporations, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the National Credit Union Administration. (7) FINANCIAL INSTITUTION.— The term "financial institution...
45 ページ - BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM FEDERAL DEPOSIT INSURANCE CORPORATION OFFICE OF THE COMPTROLLER OF THE CURRENCY OFFICE OF THRIFT SUPERVISION...
40 ページ - ... unless the consumer has notified the financial institution that transfers by that person are no longer authorized; (2) With fraudulent intent by the consumer or any person acting in concert with the consumer; or (3) By the financial institution or its employee. §205.3 Coverage. (a) General. This part applies to any electronic fund transfer that authorizes a financial institution to debit or credit a consumer's account. Generally, this part applies to financial institutions. For purposes of §§205.10...
1 ページ - Group of 8 (G8) is a group of eight countries: Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States. The...
1 ページ - Chairman The Honorable Paul S. Sarbanes Ranking Minority Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Michael G.
3 ページ - Appendix I provides additional details on our scope and methodology. We conducted our work from December 2004 to October 2005 in accordance with generally accepted government auditing standards.
3 ページ - ... financial institutions and bring more immigrants into the financial mainstream. Research shows that competition in the remittance market has resulted in a drop in the cost to send remittances from the United States to certain regions of the world. For example, according to the...