Western Union’s Intermex Deal Wins NY OK, Stalls in California

Western Union’s pending acquisition of International Money Express (Intermex) has received regulatory approval from New York but faces further review by California, Western Union said in a Friday (Aug. 14) press release.

The New York State Department of Financial Services (NYDFS) gave its regulatory approval to the pending acquisition after Western Union made commitments regarding remittance services and locations in New York after the acquisition, according to the release.

The California Department of Financial Protection and Innovation (DFPI) suspended an approval extension it had granted to the pending acquisition, saying in a letter to the companies that the suspension is “based on a need to further review the transaction as a result of the intervening six months since approval was originally granted, and to further examine the impact of the proposal on operations in this state.”

Western Union and Intermex plan to engage with the DFPI, address its questions and seek reinstatement of the approval, according to the release.

“Western Union and Intermex remain committed to completing the transaction and intend to close promptly after the reinstatement of the DFPI approval, subject to satisfaction or waiver of remaining customary closing conditions,” Western Union said in the release.

Western Union announced in August 2025 that it planned to acquire Intermex for $500 million. The company said the deal is designed to bolster Western Union’s retail business in the United States while helping it speed digital customer acquisition.

“Intermex has built a well-recognized brand, as well as strong agent and customer relationships,” Western Union President and CEO Devin McGranahan said at the time in a press release. “Together, we will expand our retail footprint, unlock operational efficiencies and accelerate digital engagement.”

It was reported in May that New York City Mayor Zohran Mamdami asked the NYDFS to block the deal, saying that the acquisition would put financial pressure on the city’s immigrants.

McGranahan said during a July 30 earnings call that Western Union was discussing the planned acquisition with regulators, including the NYDFS.

“We remain actively engaged in discussions with regulators on the final approval,” McGranahan said during the call. “I remain optimistic that we will be able to obtain the outstanding approval needed.”