Stopping Transfers of Public Funds Abroad Act

New remittance ban for aid recipients

This bill would require applicants and reapplicants for covered federal public assistance to sign a written declaration, under penalty of perjury, that they will not send money using a remittance transfer while receiving benefits. The head of each federal agency running a covered program would have to enforce the declaration. If you signed the declaration and later sent a remittance transfer while getting benefits, you would face a $100,000 fine. The rule would apply to any payment or benefit provided more than 30 days after the bill is enacted. The bill would use the Electronic Fund Transfer Act definition of "remittance transfer."