The key to a more productive classroom is more recess
Friday, July 11, 2014
More and more US banks are getting out of the money-transfer business, Dealbook notes (paywall). A series of money-laundering scandals, punished by eye-popping fines, has made them cautious: Bank of America, HSBC, Citigroup and JP Morgan have pulled out altogether, while BBVA is reportedly looking to sell off a business unit that handles wire transfers in Latin America. And the fear is that rules intended to stop terrorists and drug traffickers are disproportionately hurting the families—and home countries—of migrants in the US who send money back home.