An Eye on Remittances: The Need for High Industry Standards, Strong Consumer Protections, and Effective Consumer Outreach

Author:	Beatriz Ibarra
Contact:	Beatriz Ibarra
Date:	May 17, 2007
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Topic:	Community and Family Wealth-Building
Policy:	Remittances

Summary

NCLR testified that many Latinos continually face barriers in accessing basic banking services before the U.S. Financial Services Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. With approximately 73% of Latinos sending money abroad to friends and family, Congress must ensure that remittance market standards are clearly defined and serve to protect consumer rights.