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Western Union Will Expand Services in Cuba

Western Union is joining the growing list of companies looking to conduct more business in Cuba.

The company says it intends to expand its service handling money transfers to Cuba in response to new regulations announced last week by the Obama administration.

Western Union already handles remittances from the United States to Cuba. Soon, it will begin processing remittances from other countries into Cuba.

Monday's statement from Western Union quotes company executive Odilon Almeida as saying remittances to Cuba fund families and private small businesses and can be a "powerful catalyst for empowerment and innovation."

A key goal of Obama's regulatory changes is to support the island's 400,000 or so private entrepreneurs, who have been allowed to go into business for themselves under economic reforms instituted by President Raul Castro.

Copyright AP - Associated Press
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