New York State has approved the transaction between Western Union and Intermex.

New York Governor Kathy Hochul stated in a release on Thursday that Western Union, following its acquisition of International Money Express, has committed to continue serving communities across New York State and will impose a cap on fee increases for three years after the deal is completed. After the New York State Department of Financial Services approved Western Union's merger with Intermex, Western Union reached the aforementioned agreements. Hochul indicated that upon completing the acquisition of Intermex, Western Union will control a significant market share of the retail remittance business for New York clients sending money to Ecuador, Guatemala, Honduras, Mexico, Nicaragua, and Peru. According to the agreements reached with the New York State Department of Financial Services and the state Attorney General's office, Western Union is prohibited from using this acquisition of Intermex as an opportunity to reduce services for New York consumers sending money to the aforementioned six countries in the next three years.