Bank Accounts

bank accounts: General licenses for telecommunications and internet-based services will be expanded, and travelers are allowed to open bank accounts, according to MSNBC. U.S. Treasury Secretary Jacob Lew said the move would usher constructive change for the Cuban people. Under the regulatory changes, which were announced Friday, American companies for the first time in decades would be allowed to open businesses and hire workers in Cuba. A stronger, more open U.S.-Cuba relationship has the potential to create economic opportunities for both Americans and Cubans alike, Lew said in a statement. The Pope played an instrumental role in helping to restore diplomatic relations between both countries. By further easing these sanctions, the United States is helping to support the Cuban people in their effort to achieve the political and economic freedom necessary to build a democratic, prosperous, and stable Cuba. * Controversy over Pope Francis’ trip to Cuba* The shift to ease sanctions on Cuba, comes on the eve of Pope Francis’ visit to the Caribbean country this weekend before heading to the U.S. next week Tuesday. (news.financializer.com). As reported in the news.