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News Brief

September 8, 2003
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More than a hundred of California’s largest financial institutions said they would waive wire- transfer fees for Holocaust-restitution payments. The payments, which come mainly from Germany, average $350 per month. With banks generally charging per-transfer handling fees of $10-$40, such fees can add up to 10 percent of the monthly checks to Holocaust survivors and their families. California is home to the nation’s second-largest Holocaust-survivor community, according to Bet Tzedek, which provides free legal services to indigent survivors. The agreement by 108 California banks, credit unions, savings-and-loans offices and broker-dealers to eliminate the fees was announced by State Treasurer Phil Angelides, who had requested the voluntary waiver from 170 leading financial institutions. A list of cooperating financial institutions can be found at

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