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Elizabeth Warren among senators looking to crack down on 'junk fees' from remittance providers

Por: MarketWatch Politics October 19, 2022

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While the CFPB in 2020 required that companies facilitating remittance transfers “disclose the exact exchange rate, the amount of certain fees, and the amount expected to be delivered to the recipient,” the senators said that some companies are boosting their revenue by burying fees in exchange rates, among other tactics. “For example, while a remittance provider may display a zero-dollar transaction fee, they may provide a less favorable... + full article



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