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"People sending money to their loved ones in another country should not have to worry about hidden fees," Cordray said. A Western Union Co. spokesman, Tom Fitzgerald, said the company plans to be compliant with the rules by the effective date. He said the company already provides customers with disclosures on fees, exchange rates and payouts. "We agree that consumers will benefit if all remittance providers are held to the same requirements," he said. MoneyGram International Inc. also said in a statement that it gives customers information about fees and rates and responds to complaints in a timely manner. The company said it is reviewing the rules to see if any adjustments will be needed.
[Associated
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