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Remittances

Each year, immigrants all over the world send, or remit a portion of their income to their family members living in their home countries. As one of the most important destinations of world immigration, the United States has emerged as the single largest source for remittance receivers who are typically the most impoverished populations within their home countries. Just as families' economic well-being would be jeopardized if remittances were suddenly cut off, already fragile foreign economies would also be imperiled. Over the last decade, the remittance market has undergone significant changes including decreases in remittance fees, the entry of mainstream banks into the industry, and new regulations regarding disclosures and disputes. On April 25, 2012, the Shriver Center hosted a webinar on consumer protections for remittances.

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