George W. Bush Banking Program Helps Immigrants Send Money to Mexico Warner Todd Huston - Breitbart
go to original April 11, 2016

A federal program created by President George W. Bush actually helps undocumented immigrants transfer their money to Mexico and other countries. (Spencer Platt/Getty Images)

Donald Trump says curbs on remittances sent home by undocumented immigrants will pressure Mexico to fund a border wall.

Judicial Watch, a public interest law-firm, highlighted the “Directo a Mexico” program that was launched by the Federal Reserve back in 2006.

“The goal,” the watchdog group wrote, “was to provide low-cost banking services to immigrants and facilitate the process for those sending money home. Remittances are transferred through the Federal Reserve’s own automated clearinghouse linked directly to Mexico’s central bank (Banco de Mexico).”

According to Judicial Watch, the program was created by George W. Bush on the heels of the 2001 U.S.-Mexico Partnership for Prosperity initiative.

The program, though, was directly geared to undermine immigration laws and, as Judicial Watch notes, “is a potential national security nightmare.”

Read the rest at Breitbart

Related: Blocking Remittances Harms Financial Inclusion (Brookings)

Related: Will Trump Start a War Against Cash? Donald Trump and the Art of Unintended Consequences (Wealth Daily)

Related: A Donald Trump Presidency Would Increase Bitcoin Remittances to Mexico (CCN.la)

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