,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ajjeg  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,octob] #be1 #bjbd,mr4
 ,torres ( ,new ,york introduc$ ! foll[+
 bill2 :i* 0 ref]r$ to ! ,committee on  
,f9ancial ,s]vices  ,a ,,bill  ,to      
require ! ,bo>d ( ,gov]nors ( ! ,f$]al  
,res]ve ,sy/em to provide access to     
,fed,now to af=dable remittance         
provid]s1 & = o!r purposes4  #a4 ,%ort  
title ,?is ,act may be cit$ z !         
,af=dable ,remittance ,act4  #b4 ,f9d+s 
,congress f9ds ! foll[+3 7#a7 ,accord+  
to ! ,migration ,data ,portal1          
remittance paym5ts support families     
across ! globe & am\nt to               
#hfj1jjj1jjj1jjj ( global paym5ts       
annually1 :i* surpasses ! size ( =eign  
direct inve/m5t & developm5t aid to l[- 
& middle-income c\ntries1 exclud+ ,*9a4 
7#b7 ,remittance paym5ts are ! s+le     
l>ge/ s\rce ( f9ancial support to em]g+ 
m>kets4  7#c7 ,accord+ to ! ,_w ,bank1  
digital remittance provid]s h us$       
te*nology to improve f9ancial inclusion 

by improv+ access & r$uc+ co/s to       
consum]s ov] ! la/ decade f an av]age ( 
#i p]c5t to approximately #f p]c5t 9    
#bjbc4  7#d7 ,digital remittance        
provid]s c (f] ne> in/antane\s paym5ts =
 consum]s ar\nd ! clock4  7#e7 ,access  
to ,f$]al ,res]ve paym5t rails c\ld     
enable digital remittance provid]s to   
fur!r drive d[n ! co/ ( remittance      
paym5ts4  #c4 ,fed,now ,access  7a7 ,9  
g5]al ,! ,bo>d ( ,gov]nors ( ! ,f$]al   
,res]ve ,sy/em %all1 beg9n+ on ! date t 
is #ij days aft] ! date ( ! enactm5t (  
?is section provide access to ,fed,now  
to ea* af=dable remittance provid]4  7b7
 ,af=dable remittance provid]  7#a7 ,9  
g5]al ,! ,bo>d ( ,gov]nors ( ! ,f$]al   
,res]ve ,sy/em %all1 n lat] ?an #fj days
 aft] ! date ( ! enactm5t ( ?is section1
 publi% a def9ition ( ! t]m af=dable    
remittance provid]4  7#b7 ,consid]ations
 ,:5 def9+ ! t]m af=dable remittance    
provid]1 ! ,bo>d ( ,gov]nors ( ! ,f$]al 
,res]ve ,sy/em-- 7,a7 %all only include 
p]sons ^: prim>y bus9ess is facilitat+  

af=dable remittance paym5ts2  7,b7 may n
 include depository in/itutions 7z su*  
t]m is def9$ 9 section #c ( ! ,f$]al    
,deposit ,insurance ,act72  7,c7 may n  
include any p]son 9 su* def9ition unless
 ! p]son-- 7i7 is regi/]$ ) ! ,f9ancial 
,crimes ,en=cem5t ,network ( ! ,dep>tm5t
 ( ! ,treasury or o!rwise demon/rates   
compliance ) ! requirem5ts ( ! ,bank    
,secrecy ,act2 &  7ii7 is subject to    
regulation by a ,/ate or ,f$]al ag5cy ) 
jurisdiction ov] consum] protection2 &  
7,d7 %all consid] ! ,_w ,bank's #c p]c5t
 su/a9able developm5t goal4  7#c7       
,limitation ,) respect to p]sons :o are 
n o!rwise subject to sup]vision or      
regulation by ! ,bo>d ( ,gov]nors ( !   
,f$]al ,res]ve ,sy/em1 ! ,bo>d (        
,gov]nors may n impose capital or       
liquidity requirem5ts1 or o!rwise       
sup]vise1 af=dable remittance provid]s1 
except z necess>y to ensure p]=mance on 
paym5ts ent]$ 9 ,fed,now4  7#d7 ,bank   
,secrecy ,act def9$ ,9 ?is subsection1 !
 t]m ,bank ,secrecy ,act means-- 7,a7   

section #ba ( ! ,f$]al ,deposit         
,insurance ,act 7#ab ,u4,s4,c4 #ahbi;b72
  7,b7 *apt] #b ( title ,i ( ,public    
,law #ia-ejh 7#ab ,u4,s4,c4 #aiea et    
seq472 &  7,c7 sub*apt] ,,ii ( *apt] #ec
 ( title #ca1 ,unit$ ,/ates ,code4  7c7 
,annual report on tr5ds 9 ! co/s (      
remittances ,! ,bo>d ( ,gov]nors ( !    
,f$]al ,res]ve ,sy/em %all annually     
transmit to ,congress a report on tr5ds 
9 ! co/s ( remittances4  7d7 ,rule (    
con/ruction ,no?+ 9 ?is section may be  
con/ru$ to requir$ ! ,bo>d ( ,gov]nors (
 ! ,f$]al ,res]ve to provide access to  
ma/] acc\nts to af=dable remittance     
provid]s4