Western Union Hit by Trump's Immigration Policies
Western Union, a leading money transfer business, has reported a decline in revenues due to the Trump administration's stricter immigration policies.
“Recent policy changes have led to a substantial decline in border crossings and an increase in enforcement actions including workplace inspections and deportations which have created uncertainty and hesitation within migrant communities.
The company's U.S.-based business saw a 12% decline in revenues during the third quarter, with a significant slowdown in cash transfers to Mexico, El Salvador, Peru, and Ecuador.
- 12% decline in U.S.-based business revenues
- Slowdown in cash transfers to Mexico, El Salvador, Peru, and Ecuador
CEO Devin McGranahan attributed the decline to the Trump administration's policies, citing uncertainty and hesitation within migrant communities.
Author's summary: Western Union's revenues decline due to Trump's immigration policies.
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