U.S. banks woo immigrants
Tagged: Banking, Mexico, money transfer, remittanceThe Federal Reserve has devised a remittance program to bring Mexican migrants who send money home into the mainstream banking system, regardless of their immigration status.
“As U.S. leaders craft policies to curb illegal immigration from Mexico, the U.S. Federal Reserve is devising programs to extend banking services to undocumented immigrants. A new remittance program aims to bring Mexican migrants who send money home into the mainstream U.S. financial system, regardless of their immigration status.
Dubbed ”Directo a México,” the remittance program enables U.S. commercial banks to make money transfers for Mexican workers through the Federal Reserve’s own automated clearinghouse, which is linked to Banco de México, the Mexican central bank.”
Source: More information in English / Mas informacíon en Ingles
Fuente Traducido: usando Google o Altavista/Babel Fish
Posted on:
October 12th, 2006
Fuente Traducido: usando Google o Altavista/Babel Fish
Curation from Tomás
Filed Under: Business, Top Stories
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