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United States · Bill · HR

H.R. 4253 (105th)

Wire Transfer Equity Act of 1998

referredUnited States· United States Congress· EN

Introduced

16 July 1998

Last action

Status

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Sponsors

Subjects

Discovery layer

Source updated

21 August 2025

Summary

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.

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Documents

3 official files

Introduced in House (text)

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Sources

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