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Banks, credit unions enter remittance market game

July 16, 2006

San Francisco Chronicle: Bank of America, Wells Fargo, Citibank and a number of credit unions in the United States are beginning to offer transfer remittance programs for immigrants trying to send money back home. Historically, many money-transfer operations have been dedicated storefronts adjunct to other financial businesses or have been housed in retail locations. But a new crop of options has emerged, offering more choices and lower prices.

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