U.S. Congress - H.R.4049 Money Service Business Act of 2008
H.R.4049 - Money Service Business Act of 2008
To amend section 5318 of title 31, United States Code, to eliminate regulatory burdens imposed on insured depository institutions and money services businesses and enhance the availability of transaction accounts at depository institutions for such business, and for other purposes. view all titles (3)
All Bill Titles
- Short: Money Service Business Act of 2008 as passed house.
- Official: To amend section 5318 of title 31, United States Code, to eliminate regulatory burdens imposed on insured depository institutions and money services businesses and enhance the availability of transaction accounts at depository institutions for such business, and for other purposes. as introduced.
- Short: Money Service Business Act of 2007 as introduced.
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I invested in a business by becoming an independant agent. The business is essentially an ATM card business. The business has been effectively shut down because of the inability to transfer money from card to card. The most powerful feature of the card is the ability to transfer money from one card to another, anywhere in the world for only $3.00.
If the bill passes, the business would be able to function. I assist in getting money from our church to a missionary in Kenya. At this time, I cannot do that because of current restrictions. This bill would free up that option again.