Today, we announced our lawsuit against MoneyGram and its subsidiary company for alleged violations of the Remittance Transfer Rule, which protects the rights of people who send money to others in foreign countries.
International money transfers form an important part of the financial lives of people across the country. Many people who regularly send remittances have limited ability to speak and write English, and they may be working tirelessly to support family and friends here in the United States and abroad. The Remittance Transfer Rule covers billions of dollars’ worth of transactions each year, and we are holding companies accountable for complying with the rule.
If you send remittances, or work with people and communities that send remittances, you should know that senders have rights. The rights cover disclosures, cancellations, refunds, and resolving errors. Some situations where we have found companies violating consumer’s rights include:
- Not providing complete and accurate disclosures that are required
- Not refunding money when the sender cancels within the specified time limit
- Not refunding fees and taxes when that is required in the situation
- Not treating certain bill payments sent overseas as remittance transfers
- Not delivering disclosures or providing results of error investigations in the sender’s language, when required
For details on your rights and the information you should receive when you send money abroad, please see our page on Sending money to another country. You can also download or order free copies of our publication on Sending Money Abroad with Confidence (English | Spanish | Arabic | Chinese | Haitian Creole | Korean | Russian | Tagalog | Vietnamese ). For those who work with consumers, download our publication on Helping Consumers Understand Remittance Transfers (English | Spanish | Arabic | Chinese | Haitian Creole | Korean | Russian | Tagalog | Vietnamese ).
If you’re having trouble with a money transfer, you can submit a complaint to us.