There is one summary for S.79. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (01/07/2015)

Remittance Status Verification Act of 2015

Amends the Electronic Fund Transfer Act to require a remittance transfer provider, before initiating a transfer, to request from the sender of a remittance whose recipient is located in a country other than the United States proof of the sender's status under U.S. immigration laws.

Cites admissible documentation attesting to the sender's status, including a state-issued driver's license or federal passport.

Directs a remittance transfer provider to impose, upon any sender unable to provide such proof of status, a fine equal to 7% of the U.S. dollar amount to be transferred.

Requires submission to the Consumer Financial Protection Bureau of all fines imposed and collected by a remittance transfer provider in order to pay the administrative and enforcement costs of implementing this Act.

Requires the Comptroller General to study the effects of the enactment of this Act.