DENVER & MIAMI — The path toward Western Union’s acquisition of International Money Express, Inc. (Intermex) has encountered a significant regulatory roadblock in California, despite securing approval from New York authorities. The companies announced an update on the pending transaction, revealing that while the New York State Department of Financial Services (NYDFS) has granted its consent, the California Department of Financial Protection and Innovation (DFPI) has suspended a previously extended approval.
California Regulator Suspends Approval
On August 13, 2026, Western Union and Intermex received a letter from the DFPI indicating a suspension of the approval extension that had been granted on July 31, 2026. The DFPI cited a need for further review of the transaction, noting the six-month interval since the initial approval and a desire to examine the proposal’s impact on operations within the state.
In response, Western Union and Intermex have stated their intention to engage promptly with the DFPI to address the regulator’s concerns and seek the swift reinstatement of the approval. The companies remain committed to completing the acquisition and plan to close the transaction soon after the DFPI’s approval is reinstated, contingent upon the satisfaction or waiver of other customary closing conditions.
New York Approval Secured with Commitments
The update also confirmed that the parties have received regulatory approval from the NYDFS. As part of this approval, Western Union made specific commitments to the NYDFS concerning remittance services and the company’s physical presence in New York following the completion of the acquisition. These commitments are designed to ensure continuity and service levels for consumers in the state.
Deal Remains a Priority
Despite the setback in California, both Western Union and Intermex have reiterated their dedication to finalizing the deal. The suspension by the DFPI introduces an element of uncertainty regarding the timeline for the acquisition’s closure. Western Union, a global leader in cross-border, cross-currency money movement, payments, and digital financial services, aims to integrate Intermex’s operations to further enhance its service offerings.
Intermex, founded in 1994, facilitates money transfers from the United States, Canada, Spain, Italy, and Germany to over 60 countries through a network of agent retailers, company-operated stores, mobile apps, and websites. The acquisition, if completed, would expand Western Union’s reach and capabilities, particularly in key remittance corridors.
Forward-Looking Statements and Risks
In their joint announcement, Western Union and Intermex included a standard Safe Harbor Compliance Statement for Forward-Looking Statements. These statements, which use terms like ‘expects,’ ‘intends,’ and ‘pending,’ are subject to risks and uncertainties. Actual outcomes could differ materially from those projected due to various factors, including the ability to obtain all necessary regulatory approvals, the successful integration of Intermex’s business, potential transaction costs, and the impact of disruptions on business operations and relationships.
The companies also highlighted the importance of consulting their respective filings with the Securities and Exchange Commission (SEC) for a detailed discussion of these risks. Specifically, the ongoing review and potential impact of regulatory actions, such as the suspension of approvals, are identified as key factors that could affect the timing and completion of the proposed transaction.
The market will be closely watching the engagement between Western Union, Intermex, and the DFPI in the coming weeks. The successful resolution of California’s regulatory concerns will be critical for the timely closure of this significant acquisition in the global remittance sector.
