February 14 2026

Banks’ Better-Safe-Than-Sorry Policies Hurt Immigrants

Banks’ Better-Safe-Than-Sorry Policies Hurt Immigrants

The government is constantly seeking ways to eliminate terrorism, drug use, and money laundering, and they believe that limiting international money transfers can put these activities in check. Many banks are reducing the ease and increasing the cost of these transfers, which puts a huge strain on immigrant populations typically categorized as low-income. [7/7/14]