remittance

(Newser) - President Obama officially announced new rules for Cuban remittances and travel today, lifting barriers implemented by his predecessor. The eased restrictions allow Cuban Americans to make limitless money transfers and trips to the island nation, the AP reports. It fulfills Obama’s campaign promise to bridge the gap between divided...

(Newser) - The downturn in the US economy is also hitting Mexico hard, the Washington Post reports. Money sent home from the US, known as remittances, dropped nearly 7% in January compared with the year before, the biggest plunge in 13 years, says the Mexican government. Without that money, the country's No....