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Somali Wire Money Transfers Imperiled

Hundreds of thousands of Somalis have depended on money sent by relatives and friends living abroad as their only source of income ever since Somalia's government collapsed in 1991. But on Friday, Merchants Bank of California — the last bank willing to do business with Somali-American transfer companies — is expected to terminate those companies’ accounts, endangering financial lifelines and leaving Somalis at risk. Complicated banking regulations and fears about...

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