U.S. Sen. John McCain, R-Ariz., believes banks are closing Arizona branches near the Mexico border as a result of cash laundering concerns.
McCain told reporters in Phoenix Friday he cannot figure any type of others necessity for U.S. banks shuttering branches and offices in border cities such as Nogales, Arizona.
“This is the just logical reason,” McCain said. The senator said banks have actually not offered him or her any type of others reasons they have actually closed borderland branches.
“No one desires cash laundering,” said McCain.
Border locations are prime drug trafficking routes from Mexico in to the U.S. and Mexican cartels are multi-billion-dollar enterprises.
The Arizona senator has actually brought the concern up to banks too as at the Arizona Legislature and Congress. He is concerned branch closings hurt consumers and little businesses seeking economic programs and loans.
“Wells Fargo has actually not closed any type of border stores in Arizona in the last 3 years. We stay dedicated to offering Arizona’s border areas and the calls for of our border customers,” said Wells Fargo spokesman Danny Ischy.
Mike Sunnucks writes regarding residential and commercial actual estate, government, law, sports firm and work environment issues.