New York City Mayor Eric Adams urges the state to intervene to block Western Union’s proposed acquisition of International Money Express (Intermex), according to reports. Western Union announced last year that it would buy Intermex in a deal valued at about $500 million. The mayor argues that the transaction could increase costs for immigrants sending money overseas, including by reducing competition or affecting pricing for remittance services.
The proposal is being framed as a consumer-protection issue for New York’s large immigrant population. The New York Times reports that the mayor wants the state to “quash” the deal, suggesting regulatory action to prevent the acquisition from moving forward.
The sources describe the dispute at a policy and regulatory level rather than any claim of wrongdoing by either company in the reporting provided. As of the latest coverage, the focus remains on whether state authorities should challenge the acquisition to protect remittance customers from potential price increases.
