Rep. Torres Introduces Resolution To Protect Bronx Families From Deceptive Remittance Transfer Fees

Resources / In the News Share on Rep. Torres Introduces Resolution To Protect Bronx Families From Deceptive Remittance Transfer Fees May 14, 2026 In the News WASHINGTON, D.C. – Congressman Ritchie Torres (NY-15) introduced H.J.Res. 175, a resolution to restore federal protections against deceptive marketing claims on remittance transfers, the money transfers that millions of immigrant families rely on to send money to loved ones abroad. The measure would restore a Consumer Financial Protection Bureau circular clarifying when marketing claims about the cost and speed of remittance transfers are deceptive under federal law. The resolution would restore CFPB Circular 2024-02, which the Trump Administration rescinded as part of a broader effort to dismantle the Consumer Financial Protection Bureau. The Senate companion bill is S.J.Res. 131, introduced by Sen. Ruben Gallego (AZ). The resolution is part of a package of 23 bills introduced by House Financial Services Committee Democrats to restore critical CFPB guidance rescinded by the Trump Administration, covering protections against predatory debt collection, unfair overdraft fees, unlawful lending discrimination, and financial exploitation of servicemembers. “For countless families in the Bronx and across the country, remittances are not a luxury, they are a financial lifeline,” said Rep. Torres . “Families deserve honesty and transparency when sending hard-earned money to support loved ones abroad. No one should be misled about how much a transfer will cost or how quickly it will arrive. This resolution restores a basic principle of consumer protection: truth in advertising.” Rep. Torres added that protecting remittance consumers is especially important in immigrant communities, where families often sacrifice significant portions of their income to provide financial support to relatives overseas. Restoring these protections would help ensure consumers are treated fairly and shielded from deceptive practices in the financial marketplace. ### Share on