The US tried to stop cartel money-laundering; devastated mom-and-pop businesses
New US government regulations requiring the reporting of cash transactions over $200 have negatively impacted small, family-run businesses near the US-Mexico border. These businesses, which often serve as vital financial hubs for unbanked residents, are struggling with the increased administrative burden and loss of customer traffic.
Evangelina Ornelas, co-owner of Nachita’s Grocery, where customers frequently went for money transfers. Now concerns are growing about how the government might use the personal data collected from ordinary customers. Evangelina Ornelas, co-owner of Nachita’s Grocery, where customers frequently went for money transfers. Now concerns are growing about how the government might use the personal data collected from ordinary customers. Trump administration The US tried to stop cartel money-laundering. It devastated mom-and-pop businesses instead Small businesses pay hidden toll after money-transfer rule change to curb illicit activities near the US-Mexico border
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in