Bank of America Offers Free Money Transfers to Mexico (10/5/05)
MEXICO CITY Bank of America is teaming up with several Mexican banks and government-run agencies to offer free money transfers for Mexicans living in the United States.
Bank officials say it's aimed at gaining customers among a sector of the population in which relatively few people have bank accounts.
B of A says 41 percent of Hispanic households in the U-S have accounts at the bank.
The entry of commercial banks into the remittance business in recent years has lowered considerably the commissions and exchange losses that migrant workers were paying to send money to their families.
At a Mexico City news conference, Bank of America says it will also exchange dollars for pesos at the interbank rate, which is updated daily.
Mexicans sent home 16-point-six (b) billion dollars in 2004. The amount this year is expected to top 20 (b) billion dollars.
I dumped BofA years ago.
Between BofA and the following do we have a chance?
Rightwing Senator Seeks Wealth Transfer from U.S. to Mexico
A right-wing Republican wants to implement a Marxist-style plan to transfer wealth from American taxpayers, sending it south of the border "to reduce the wealth gap" between the U.S. and Mexico.
Sen. John Cornyn, R-TX, has introduced legislation to make grants of U.S. tax dollars for roads, telecommunications facilities, and education programs in Mexico. The bill, S. 2941, parallels plans developed by the influential Council on Foreign Relations to integrate the populations and economies of the two countries with Canada in a "North American Community."
Good to know, All4one.
Very important (and maddening) post. Thanks, all4one.
The good news is that the Feds haven't -- for example -- assessed a surcharge on telephone service to specifically subsidize illegal alien communications...yet. Or maybe someone will propose an Internet surcharge because, well, illegal aliens infiltrating the country need the web, too.
I mean, where will it all end? When will all this catering to illegals breaking the laws at the expense of the legal citizenry end?