The following email was received from the organization shown in the masthead which accompanied the text below it, which clearly points out that Pres. Trump has either failed to follow through with this campaign promise, or overlooked it. Perhaps we should write him and ask why?:
Most of the $33 Billion in Remittances to Mexico Flow Via U.S. Govt. Banking Program
Though President Trump said he would block money
transfers to Mexico to fund a much-needed border wall, Mexicans in the
U.S. sent a record $33.48 billion in remittances last year and a big
chunk of it flowed through a government program operated by the Federal
Reserve.
This means that, amid an onslaught of illegal
immigration, the U.S. government is largely responsible for the billions
in remittances flowing south of the border from illegal aliens. Figures released
by Mexico’s central bank show that 104 million transactions were
executed in 2018, nearly six million more than the previous year.
Uncle Sam facilitates the process with a program called “Directo a Mexico” (Direct
to Mexico), launched by the Federal Reserve, the government agency that
serves as the nation’s central bank, more than a decade ago. President
George W. Bush came up with the idea following the 2001 U.S.-Mexico
Partnership for Prosperity to provide low-cost banking services to
illegal immigrants and facilitate the procedure for those sending money
home.
In its first year, 2005, remittances to Mexico topped $20 billion and
the Federal Reserve reports “double-digit percentage growth for the
past several years.” Remittances are transferred through the Federal
Reserve’s own automated clearinghouse linked directly to Mexico’s
central bank (Banco de Mexico). The Trump administration should
eliminate it because it undermines our nation’s immigration laws and is a
potential national security nightmare.
Back in 2006 Judicial Watch investigated the outrageous taxpayer-subsidized initiative and obtained government records that
shed light on how it functions. Marketing materials target immigrant
workers in the U.S.—regardless of their legal status—as well as banks,
credit unions and other financial institutions.
The program is
promoted as “the best way to send money home,” offering “more pesos for
every dollar.” American financial institutions are charged $0.67 per
item to transfer money from the United States to Mexican banks, ensuring
a “highly competitive rate.” The Federal Reserve also provides
participating U.S. financial institutions with Spanish language
promotional materials to “help get your message out.” The marketing
materials also include the number of Mexican migrants in the U.S. with
no distinction between those here illegally or not. A separate list
identifies thousands of Mexican banks receiving “Directo a
México” transfers.
When the program was created Federal Reserve
officials acknowledged that most of the Mexican nationals who send
money back home are illegal immigrants so
a Mexican-issued identification is the only requirement to use the
government banking service. A colorful brochure promoting “Directo a
Mexico” offered to help immigrants who don’t have bank accounts and
assured the best foreign exchange rate and low transfer fees.
A
frequently asked question section posed this: “If I return to Mexico or
am deported, will I lose the money in my bank account?” The answer:
“No. The money still belongs to you and can easily be accessed at an ATM
in Mexico using your debit card.” In short, the U.S. created this
special banking system specifically for illegal aliens and tens of
billions of dollars have streamed through it.
As a presidential
candidate Trump proposed a plan to get Mexico to fund a border wall by
cutting off remittance payments from Mexican migrants in the U.S. In a memo to
a mainstream newspaper Trump wrote that Mexican migrants send $24
billion in remittances annually and the estimated cost of a border wall
would be between $5 billion and $10 billion.
According to his plan, the U.S. Patriot Act would
be amended to block wire transfers from Mexican nationals using
companies such as Western Union. Nowhere in the document is the Federal
Reserve’s special program, which clearly caters to illegal immigrants.
The president is well aware that the overwhelming majority of
remittances to Mexico are sent by those living in the U.S. illegally.
In fact, his proposal was to create a rule that “no alien may wire
money outside of the United States unless the alien first provides a
document establishing his lawful presence in the United States.” The
Federal Reserve’s “Directo a Mexico” has no such requirement as the
commander-in-chief completes his first term.
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