Mexican central banker criticizes Trump's remittance plan
{{#rendered}} {{/rendered}}FILE - In this April 11, 2016 file photo, Republican presidential candidate Donald Trump speaks in Albany, N.Y. It's not just thatTrump is behind the curve in organizing to win an increasingly likely second ballot at the Republican National Convention. It's that he's missed his chance altogether to line up potential delegates who will remain loyal, thanks to deadlines in some states that have already passed. (AP Photo/Mike Groll, File) (The Associated Press)
Mexico's central bank boss is criticizing Donald Trump's proposal to block remittances from Mexicans living in the U.S. as a way to force Mexico into paying for a border wall.
Bank chief Agustin Carstens said Tuesday that the plan would violate people's rights. He says money being remitted is the property of the people who earn it and they have the right to transfer their funds internationally.
Trump has said he would modify a clause of the anti-terrorism Patriot Act to keep the money until Mexico agreed to make a one-time payment of $5 billion to $10 billion for the wall.
{{#rendered}} {{/rendered}}Remittances to Mexico totaled nearly $24.8 billion last year, exceeding for the first time earnings from oil exports. They represent more than 2 percent of Mexico's gross domestic product.