To amend the Federal Credit Union Act to allow greater access to international remittance services, and for other purposes.

March 1, 2005

Mr. BACA (for himself, Mr. GRIJALVA, Mr. SERRANO, and Ms. WATSON) introduced the following bill; which was referred to the Committee on Financial Services

To amend the Federal Credit Union Act to allow greater access to international remittance services, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Financial Services for All Act'.

SEC. 2. FEDERAL CREDIT UNION AMENDMENT.

Paragraph (12) of section 107 of the Federal Credit Union Act is amended to read as follows:

`(12) in accordance with regulations prescribed by the Board--

`(A) to sell or provide for a fee negotiable checks (including travelers checks), money orders, international money transmitting or transfer services, and other similar money transfer instruments and services (including electronic fund transfers); and

`(B) to cash checks and money orders and receive electronic fund transfers for a fee;'.

END