advertisements
As a sign of protest, more Somali-Americans closed their bank accounts at Wells Fargo Friday.The Somali community wants the bank and others like it to agree to do business with money transfer companies. Somalis here use the services to send money to their relatives in their homeland.
Most Minnesota banks stopped working with the companies after Sept. 11, 2001, when federal officials cracked down on overseas transfers. The only one that still allowed the practice stopped on Dec. 30.
Money Express is currently allowing $500 transfers to Somalia, and state lawmakers have said they will introduce legislation calling on banks to change their policies.