June 21, 2007 |
Wal-Mart Stores Inc. said Wednesday that it would dramatically expand low-cost financial services such as check cashing and money transfers for its millions of customers who don't have bank accounts. The giant retailer, which this year dropped efforts to formally enter banking amid opposition from Congress and regulators, said it would open 1,000 Wal-Mart MoneyCenters by the end of next year, up from about 225 in stores now.
April 18, 2007 |
The first of what became a series of payments that grew into the alleged $60-million fraud Conrad Black and his associates are charged with was mapped out at the Canadian company that the former media mogul controlled, prosecutors said Tuesday. David Radler, Black's onetime partner who has pleaded guilty, will testify to the creation of the money transfers when he takes the stand as the government's star witness, said Eric Sussman, the U.S. government's lead prosecutor.
February 3, 2012 |
President Obama's first campaign ad of 2012 decried "secretive billionaires attacking" him through conservative nonprofit groups that do not reveal their contributors. But two Democratic nonprofit groups that do not disclose their donors made payments last year to their affiliated "super PACs," a tactic that can be used to undermine transparency. Priorities USA Action, a group started by two former Obama White House aides, accepted $215,000 from its tax-exempt arm, Priorities USA, for "operating expenses," according to campaign finance reports filed Tuesday with the Federal Election Commission.
February 12, 2010 |
Western Union will pay $94 million to settle a long-running legal battle with the state of Arizona over whether the company allowed its money transfers to be used to send proceeds from human trafficking and drug smuggling to Mexico, officials announced Thursday. The settlement includes $50 million that will help law enforcement operations in border states fight money laundering. Western Union has also agreed to beef up its internal procedures to stop its wire transfers from being exploited.
March 5, 2001 |
For decades, money transfers from Mexican immigrants living in the United States have flowed to relatives south of the border typically at high cost and with little involvement from the Mexican government. But the role of the migrant is being dramatically altered as President Vicente Fox moves to capitalize on the close links between Mexicans on both sides of the border.
November 25, 2003 |
The Federal Reserve next month will lower the cost to U.S. banks of sending funds to Mexico, making it easier for the institutions to handle more of the billions of dollars that immigrants send home to relatives each year. The changes will let U.S. banks move money across the border through the Fed's system of clearing batches of electronic payments at about the same cost as transfers within the U.S. Banks without subsidiaries in Mexico will benefit most.
January 27, 2005 |
Escalating the battle for Latino market share, Bank of America Corp. plans to eliminate all fees to transfer money to Mexico, starting today in Chicago and in the rest of the U.S. by the end of this year. Not surprisingly, there's a catch: Bank of America said it would require new customers of its transfer program to open a checking account. For many customers, it will be their first.
February 14, 2007 |
Mexicans who work in the United States and send money south of the border are moving into the financial mainstream, according to a new survey. Fully 70% of migrants interviewed by Mexico's central bank said they had a U.S. bank account. The findings also suggest that U.S. financial institutions are playing an increasing role in the money transfers. People with bank accounts often are able to send money at a cheaper rate than if they wired the money through other means.
April 20, 2008 |
The U.S. economic downturn and tightened border controls have begun to alter the rhythms of undocumented migrants who used to move back and forth with regularity, which has crimped the flow of money sent home to Mexico, one of the nation's main sources of foreign income. The developments have produced worry and deep uncertainty in towns such as Tejaro, a farming community of 4,200 where pickup trucks bear license plates from Nevada and Minnesota.
December 28, 2002 |
When Bank of America Corp. announced a couple of weeks ago that it was expanding more aggressively into the business of helping Mexican immigrants send money back to their homeland, you might have thought that a money-transfer company such as Sigue Corp. would become alarmed. As Sigue Vice President Manuel Diaz sees it, though, it's the big bank that should worry.