WIRED FOR GROWTH; MoneyGram of St. Louis Park is poised to gain an even bigger share of the lucrative global money-transfer market. But growing competition and increasing regulatory scrutiny could make things dicey.(BUSINESS INSIDER)(Industry overview)

From: Star Tribune (Minneapolis, MN) | Date: September 25, 2006| Author: | Copyright information

Byline: Thomas Lee; Staff Writer

Once a week, Leticia Evler walks into Los Gallos, a money-transfer store in West St. Paul, and wires her 20-year-old son in Mexico about $200 from her weekly paycheck as a cook.

She prefers to use the store's MoneyGrams because her son can pick up the money at a Wal-Mart or a supermarket. Evler fears thieves might rob her son if she sent the money to a local bank.

"It's ... easier," said Evler, a Wisconsin resident who has lived in the United States for five years. "When you send money to a bank, there are too many problems."

...

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