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US Bancorp (Delaware)

Money transfers cut off to Somalia

Money transfers cut off to Somalia

Pressured by the U.S. government's anti-terrorism crackdown, a small Southern California bank is cutting off a crucial source of aid to families in war-ravaged Somalia — money wired from Somali immigrants in the United States. Merchants Bank of California said it planned to stop wiring the funds to Somalia on Friday, following in the footsteps of a string of other banks that cut off the service since giants Wells Fargo & Co. and US Bancorp ended such transfers nearly a decade ago. The one-office Carson bank had become a last resort for about a dozen money-transfer businesses that collect funds in U.S. offices and disperse them in Somalia, which has no connections to the...

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