Western Union Reports Fewer U.S. Dollars Being Sent Home by Migrants

In another example of the Trump effect, money transfer giant Western Union is reporting that its revenue from cash transfers to locations outside the U.S. has seen a 12 percent decline this year.

Migrants living in the U.S. both legally and illegally have traditionally been the greatest source of U.S. dollars flowing out of America and into foreign nations, even dwarfing the amount of foreign aid lavished on the world by the U.S. government. But with Donald Trump’s focus on immigration, Western Union is seeing far fewer customers needing their services.

Last week, Western Union CEO Devin McGranahan told investors that the company had seen a huge decline in cash transfers to Mexico, El Salvador, Peru, and Ecuador, according to CPR News.

WATCH — ICE

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