US Banks Could Lose $159B from Mass Deportations teleSUR
go to original March 26, 2017

CONDUSEF will begin offering personal financial consulting to Mexican nationals living abroad (Reuters)

Mexico’s National Commission for the Protection and Defense of the Users of Financial Services revealed Thursday that U.S. banks could lose about US$159 billion because of mass deportations of Mexicans.

CONDUSEF also reported that about 66 percent of Mexican immigrants living in the U.S. have at least one U.S. bank account and transfer about US$292 on average to Mexico every month.

The government organization issued a public recommendation to Mexican immigrants to pull funds out of their U.S. bank accounts in order to protect their savings, Sputnik International reported. The organization also warned the U.S. government that mass deportations of Mexicans could lead to “systemic risk” for their financial system.

“As there are new immigration policies, financial loss prevention plans are important to consider,” CONDUSEF wrote in its statement.

Read the rest at teleSUR

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