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Keyword: directoamexico

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  • Immigrants who wire money get help from the Fed. Customers without SSNs wire money at little cost.

    02/26/2007 5:55:14 AM PST · by John Jorsett · 26 replies · 667+ views
    Los Angeles Times ^ | Feb 26, 2007 | Molly Hennessy-Fiske
    Even as the federal government is starting to crack down on companies that hire illegal immigrants, it's been helping those same workers send money home, cheap. Dubbed Directo a Mexico, the Federal Reserve-sponsored service allows customers without Social Security numbers to wire money through the Fed system to Mexico's central bank at little cost. In September, the Fed expanded the remittance program by allowing immigrants, legal or not, to open accounts at participating banks and credit unions in the U.S. or Mexico. About 27,000 transfers are made through the program each month. The program has attracted the attention of conservative...
  • New Federal Reserve Program Helps Illegals Send Money to Mexico

    12/15/2006 7:23:44 AM PST · by hedgetrimmer · 25 replies · 1,425+ views
    National Ledger ^ | Dec 14, 2006 | Tom Fitton
    If there is one thing this country needs, it’s a new government program designed to help illegal aliens send money to Mexico, don’t you think This week, JW released Federal Reserve marketing materials created for “Directo a México” [Direct to Mexico], a new government program designed to help immigrant workers in the U.S. – regardless of their legal status – send the money they earn here to their relatives in Mexico. We obtained the marketing materials, prepared for presentations to financial institutions in California in early November 2006, from the Retail Payments Office of the Federal Reserve in Atlanta, Georgia....