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New York State officials announced on August 13, 2026, that The Western Union Company has secured approval to acquire International Money Express, Inc., commonly known as Intermex. According to Governor Kathy Hochul, the Department of Financial Services and the Office of the Attorney General reached an agreement with Western Union to maintain physical locations, preserve essential remittance services, and cap fee increases across the state for three years following the merger.
State Oversight and Fee Caps Protecting New York Consumers
Under the terms approved by the New York State Department of Financial Services, Western Union must keep its physical storefronts open and cap price hikes for a mandatory three-year period. Governor Hochul stated that the state’s intervention aims to protect working families who depend on affordable transfer services to send financial support to relatives abroad. New York Attorney General Letitia James noted that her office took action to ensure the consolidation does not threaten vital remittance networks relied upon by local residents.
Acting Superintendent Kaitlin Asrow of the Department of Financial Services emphasized that the agency’s primary focus remains safeguarding consumer access to affordable financial products. According to state financial regulators, the binding commitments prevent the combined company from leveraging its expanded market footprint to degrade service quality or price out vulnerable populations.
Impact on Latin American and Caribbean Remittance Corridors
Intermex historically serves more than 6,000 New York consumers annually, with a primary operational focus on remittance corridors targeting Latin America and the Caribbean. Its retail network spans multiple neighborhoods and counties, including branches located in the Bronx, Brooklyn, Manhattan, Queens, Westchester County, and Long Island.
Following the completion of the acquisition, Western Union will control a significant share of the retail money transfer market from New York customers to six specific nations: Ecuador, Guatemala, Honduras, Mexico, Nicaragua, and Peru. To mitigate monopoly concerns in these specific corridors, agreements with the Department of Financial Services and the Office of the Attorney General explicitly bar Western Union from reducing service availability or closing required footprint locations in ZIP codes heavily reliant on transfers to these six countries for the duration of the three-year oversight window.
Operational Integration Across Licensed Agent Locations
Western Union currently operates a vast network comprising roughly 3,000 licensed agent locations throughout New York, alongside its digital platforms and mobile applications that service transfers to more than 200 countries and territories worldwide. Under the transition plan approved by state regulators, existing Intermex retail locations will remain operational and gradually transition to Western Union branding while maintaining continuous service for customers.
State officials confirmed that enforcement mechanisms are in place to monitor compliance with the mandated physical presence minimums and fee restrictions. The coordinated oversight between the Department of Financial Services and the Attorney General’s Office sets a strict compliance framework for multinational financial services mergers operating within New York retail markets.