Remittance Expense Minimization and Integrity for Transfers Act

HR 4274, the Remittance Expense Minimization and Integrity for Transfers Act (REMIT Act of 2025), requires the Treasury Secretary to certify to Congress before imposing any excise tax or fee on money transmitting businesses. This applies to both licensed services and informal transfer systems (IVTS), such as those used by diaspora communities. The certification must confirm the tax/fee won’t increase money laundering risks or impose undue burdens on businesses. The bill responds to findings that current regulations have pushed users toward unregulated IVTS, which criminal groups exploit for money laundering and terrorist financing. It aims to prevent new fees from inadvertently worsening financial crime while protecting legitimate remittance flows.