transmitting or exchanging funds

The term “transmitting or exchanging funds” means receiving currency, monetary value, or payment instruments from a consumer for the purpose of exchanging or transmitting the same by any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or through other businesses that facilitate third-party transfers within the United States or to or from the United States.

Source

12 USC § 5481(29)

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Scoping language

None identified, default scope is assumed to be the parent (subchapter V) of this section.

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