Moneygram (NYSE:MGI) trades wildly as investors react to news of a Western Union anti-money laundering settlement deal with the DOJ. Shares are 2.2% higher after some sharp up and downs during the day.
Volume on Moneygram is already 4X normal activity.
MoneyGram (MGI -2.4%) announced it launched a new money transfer platform with long-time partner Wal-Mart.
The company says the upgraded Walmart.Moneygram.com site is built on MoneyGram's new cutting-edge MTaaS (Money Transfer as a Service) platform.
"MTaaS offers a third party solution to our strategic business partners looking for a powerful online site to connect with customers that can also be branded and updated easily," says a top MoneyGram exec.
Donald Trump reveals he would limit money transfers to Mexico as part of his plan to force Mexico to pay for a massive wall along the border. The GOP candidate wants a one-time payment of $5B to $10B to pay for the project.
There's no sense of panic among investors of money transfer firms Western Union (WU -0.8%), PayPal (PYPL -0.9%), and MoneyGram (MGI +0.7%) which would see a decline in business in the unlikely event the proposal became a reality.