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Keyword: remittance

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  • Trump threatens Mexico's biggest cash source

    01/26/2017 12:16:33 PM PST · by TigerClaws · 79 replies
    Mexico's biggest cash cow is under threat from President Donald Trump. The country's largest source of cash comes from Mexicans living in the United States. That is now under the microscope after Trump issued an executive order Wednesday to start building a wall on the border. During his campaign, Trump said multiple times that Mexico will pay for the wall. He even threatened to halt or tax cash transfers -- known as remittances -- from the U.S. to Mexico if the country refused to pay for it. Powered by SmartAsset.com SmartAsset.com "They will reimburse us for the cost of the...
  • Square Market Accepts Bitcoin

    03/31/2014 2:50:19 PM PDT · by TsonicTsunami08 · 29 replies
    The Corner,Square Engineering ^ | March 31, 2014 | Square Market
    Sellers should never miss a sale. We’re building tools so sellers can accept any form of payment their customers want to use. Making commerce easy means creating easy ways to exchange value for everything from a massage to a DODOcase for your iPad.
  • Revealed: How immigrants in America are sending $120 BILLION to their struggling families back home

    01/31/2013 11:38:18 AM PST · by Obama_Is_Sabotaging_America · 25 replies
    Mail Online ^ | January 31, 2013 | Simon Tomlinson
    Migrants working in the United States sent a staggering $120 billion back to their families last year, it was revealed today. The amount of money being sent by migrants across the entire world reached $530 billion last year, making it a larger economy than Iran or Argentina, the data from the World Bank showed.
  • Mexico sees record 15.7 pct drop in remittances

    01/28/2010 12:29:01 PM PST · by SwinneySwitch · 15 replies · 551+ views
    mySA.com/AP ^ | 01/28/2010
    MEXICO CITY — Money sent home by Mexicans abroad plunged a record 15.7 percent in 2009 as migrants worldwide struggled to find work during the global economic slowdown, the central bank reported Wednesday. Remittances — Mexico's No. 2 source of foreign income after oil exports — totaled $21.2 billion in 2009, compared with $25.1 billion in 2008, the bank said. Since the bank began tracking remittances in 1996, it has recorded just one other annual decline — a 3.6 percent decrease in 2008, as the world financial crisis exploded. Central bank president Agustin Carstens attributed the latest drop to the...
  • Mexican immigration to U.S. off 40 percent, study finds

    07/22/2009 11:41:55 AM PDT · by Puppage · 16 replies · 653+ views
    cnn.com ^ | 7/22/09 | Puppage
    Immigration from Mexico to the United States slowed at least 40 percent between mid-decade and 2008, according to the analysis, based on national population surveys in the United States and Mexico, as well as Border Patrol apprehension figures. The Mexican survey estimated that 1 million Mexicans left for the United States in a 12-month period beginning in 2006. Three years later, that number decreased to 636,000.
  • Immigrants in US are asking for money from home

    06/30/2009 9:49:09 PM PDT · by AH_LiveRight · 45 replies · 2,047+ views
    AP via Yahoo ^ | June 30, 2009 | SAMANTHA HENRY
    FAIRVIEW, N.J. – For five years, immigrant day laborer Leo Chamale wired money twice a month from New Jersey to his family in Guatemala. Recently, he stepped up to the money transfer window for a different purpose — to ask that his family send some of his savings back to him. "I hadn't worked for five months, and I was two months behind on rent, so I had them send $1,500," the 21-year-old Chamale said in Spanish. "My mother said, `That's a lot of money!'" With the U.S. economy in a ditch, money transfer agencies have been reporting a decline...
  • Cracking Down on ‘Blood Wire’ Money Could Hamper Mexican Cartels, ( WESTERN UNION )

    03/20/2009 11:39:03 PM PDT · by kellynla · 14 replies · 1,385+ views
    cnsnews.com ^ | March 20, 2009 | Edwin Mora
    Mexican drug cartels use a “blood wire” to send money to drug and human smugglers, according to Arizona’s attorney general, who testified earlier this week before the Senate Judiciary Committee. “Western Union is by far the largest provider of illicit money-movement services, so it is the source of valuable information about illicit money movements and has been the focus of interdiction efforts aimed at criminal proceeds in transit,” Terry Goddard, Arizona’s attorney general, told senators. Goddard was one of several witnesses who testified March 17 before the Judiciary Committee and the Senate International Narcotics Control Caucus on law enforcement responses...
  • Why Not Tax 20% of the Illegal Wages Going to Mexico Via Money Orders?

    03/11/2009 4:42:44 AM PDT · by Robert A Cook PE · 7 replies · 594+ views
    3-10-2009 | Robert A Cook
    We are told that most of the money earned here by illegal aliens is sent back to Mexico (primarily), and is the source of billions of dollars of the Mexican economy. Much, much less goes to other south American and central American countries, but 80+ percent is to Mexico. If the money now sent to Mexico via money orders was taxed at 20%, and each transaction had a SSN attached for the sender to claim when "he" filed his taxes, then the "cash economy" now supporting illegals would be discouraged. The "cash" paid to illegals might still be laundered and...
  • Mexico in economic turmoil- dramatic drop in remittances from illegals working in the United States

    01/29/2009 9:04:58 AM PST · by AuntB · 23 replies · 782+ views
    NATIONAL ASSOCIATION OF FORMER BORDER PATROL OFFICERS ^ | Jan. 28, 2009 | M3Foreignnewsreport NAFBPO
    Excelsior (Mexico City) 1/27/09 (full translation) The economic crisis which lashes the United States forces the Mexican workers, legal and illegal, to return to their places of origin. According to Carlos Villanueva, president of the World Association of Mexicans Abroad, (”AMME”) 30 percent of the nearly two million fellow countrymen who arrived in the country during the December season to spend the yearend holidays with their relatives have not returned to the United States for lack of a job which would guarantee their stay in the neighboring country. Villanueva explained that the contraction and recession in the world market has...
  • Mexican remittances drop for 1st time

    01/27/2009 2:24:01 PM PST · by GOPGuide · 12 replies · 570+ views
    AP ^ | 01/27/09 | AP
    This is AP so link only. There was 3.6% dropin remittances YOY.
  • Yearly Mexican Remittances Drop For 1st Time

    01/27/2009 3:06:25 PM PST · by Steelfish · 15 replies · 406+ views
    Yearly Mexican remittances drop for 1st time Associated Press Writer Julie Watson, MEXICO CITY – The money sent home by Mexican migrants fell in 2008 for the first time on record, Mexico's central bank said Tuesday — part of a global trend that could worsen as emigrants from developing countries lose jobs in the global financial crisis. Remittances, Mexico's second-largest source of foreign income after oil, plunged 3.6 percent to $25 billion in 2008 compared to $26 billion for the previous year, the central bank said. The percentage drop is nearly twice what the government had expected for the year,...
  • $24,000,000,000.00 (That's Billion) Sent "Home" To Mexico

    04/19/2008 5:12:20 PM PDT · by Clintonfatigued · 62 replies · 207+ views
    Red State ^ | April 19, 2008
    In 2007, "remittances," money sent back by Mexican workers to families in Mexico, beat out tourism as the second largest source of foreign money into the country. Only oil exports accounted for more. That is $24 billion that was taken out of the American economy. It was not spent in American stores. Best Buy sold fewer televisions. Ford sold fewer cars and trucks. Winn Dixie and Safeway sold fewer groceries. U.S. Steel sold less steel. And yes, even Exxon/Mobil sold less gasoline than it could have. Those fewer sales curtailed the growth of jobs for Americans in those companies. It...
  • Arizona cops bust ring smuggling cash to Mexico

    08/10/2007 6:20:05 PM PDT · by NormsRevenge · 4 replies · 626+ views
    Reuters on Yahoo ^ | 8/10/07 | Reuters
    PHOENIX (Reuters) - A criminal ring that Arizona police said used a shuttle service to smuggle drug and human trafficking profits to Mexico has been broken up with 47 people indicted, authorities said on Friday. Arizona Attorney General Terry Goddard said the firm shuttling passengers from Phoenix to Sonoyta, Caborca and Puerto Penasco in Mexico moved some $2 million a month in dirty money for at least 20 different human and drug trafficking organizations. The people indicted included drivers and other employees of the shuttle firm. They face a range of charges including money laundering, conspiracy and illegally conducting a...
  • Fewer Mexican Immigrants Are Sending Money Back Home, Bank Says

    08/10/2007 3:58:24 PM PDT · by Rick_Michael · 10 replies · 381+ views
    NYT ^ | August 9, 2007 | By JULIA PRESTON
    In those states, the percentage of Mexicans sending money home fell to 56 percent from January to June, from 80 percent in 2006... Bank officials, pointing to a survey of Mexican immigrants in the report, said the decline reflected a rising sense of insecurity and uncertainty about whether they would stay in the United States. Anticipating a possible move back to Mexico, these immigrants appear to be saving more. “They have decided because of the uncertainty of the future that they need to step back and save a bit,” said Donald F. Terry, general manager of the Multilateral Investment Fund...
  • Survey says fewer Mexicans are sending money home

    08/08/2007 5:01:52 PM PDT · by SwinneySwitch · 22 replies · 644+ views
    Brownsville Herald/AP ^ | August 8, 2007
    WASHINGTON (AP) - One in three Mexican migrants living in states where Hispanic migration is relatively new stopped sending money home this year. Anti-immigrant sentiment may be to blame, the Inter-American Development Bank reported Wednesday. In states considered "new destination" states for Latinos, such as Georgia, Pennsylvania and North Carolina, only 56 percent of Mexican migrants said they sent money home, compared to 80 percent the previous year. Migrants in these states previously had the highest remittance rate. By contrast, the rate of remittance for the first six months of this year was 66 percent - down from 68 percent...
  • Slow remittances from US migrants hit Latin America

    07/12/2007 4:37:07 PM PDT · by SwinneySwitch · 22 replies · 1,292+ views
    Reuters ^ | Jul 12, 2007 | Robin Emmott
    MONTERREY, Mexico, July 12 (Reuters) - Stricter U.S. border controls and a housing slump are cooling the once red-hot growth in remittances migrant workers send to Latin America, challenging economies to cut their dependence on the money flows. Cash sent home by Mexicans living abroad fell 5.5 percent in May, the first fall since 1999, and countries across Latin America forecast that the growth of remittance flows will slow substantially this year. "Remittances will definitely suffer a slowdown. We cannot depend only on remittances. We must increase our productive base, especially our exports," Honduras' central bank president, Gabriela Nunez, told...
  • Filipino remittances hit $12.8bn

    02/16/2007 3:17:45 AM PST · by Jedi Master Pikachu · 10 replies · 1,157+ views
    BBC ^ | Friday, February 16, 2007
    Globally, remittances make up about $230bn Money sent home by Filipinos working overseas last year totalled a record $12.8bn (£6.5bn), the Philippines' central bank has said.The remittances - a 20% rise on 2005 - account for about 10% of the country's economy, the bank added. Most of the eight million overseas workers are in the US or Middle East. According to the World Bank, the Philippines is the fifth-largest recipient of foreign remittances behind India, China, Mexico and France. It has forecast that Filipinos will send home about $14.1bn this year. Their remittances play an increasingly significant role in...
  • Illegal workers the talk of Texas (creative state bills filed to address problem)

    01/03/2007 9:51:00 AM PST · by Diddle E. Squat · 13 replies · 895+ views
    Houston Chronicle ^ | 1/3/07 | R.G. RATcliffe
    AUSTIN — They work as maids and busboys. They build homes and highways. They bone chickens on the way to market. They are worth billions of dollars to the Texas economy, but as members of the working poor they also are a drain of hundreds of millions of dollars from taxpayers. They are the 1.4 million illegal immigrants that the federal government estimates live in Texas. Half are divided evenly between the Dallas and Houston areas, according to the Center for Immigration Studies, with an additional 20 percent in the Lower Rio Grande Valley. Less than 5 percent live in...
  • Bank of America Openly Advertising Free Money Transfers to Mexico!!

    08/15/2006 11:36:23 PM PDT · by Minus_The_Bear · 42 replies · 1,066+ views
    This only caught my eye because some one I know is currently going through the immigration process in a legal manner... No free transfers for them though. There must be a sizable amount of banking business for BoA to offer this... something to think about.
  • Fruits of their American labor

    06/18/2006 12:49:04 PM PDT · by Graybeard58 · 23 replies · 1,023+ views
    Waterbury Republican-American ^ | June 18, 2006 | Joan Grillo (A.P.)
    BOYE, Mexico -- Clementina Arellano grew up with her six brothers in a shack in this dusty Mexican hamlet. Now 42, she's raising her sons in a spacious, 10-room mansion with Roman-style pillars at the doorway and a garden full of flowers and singing birds. How did she transform her fortunes so dramatically? By waiting tables and sweating in a furniture factory for about 10 years in Hickory, N.C., and sending home up to $500 a month. A couple of doors down, Berta Olgin, lives under a leaky roof, with skinny sheep gnawing at sparse patches of grass in her...