Exclusive: Mexico's antitrust watchdog accuses banks of joint price fixing https://t.co/YfKVAuP4qc https://t.co/YfKVAuP4qc
FinCEN's Cartel Crackdown on Three Mexican Financial Institutions: Implications for US Financial Transactions https://t.co/D05KyUg5fS
🏢 Empresas | La Cofece detecta que 21 bancos fijan comisiones por pagos diferidos de tarjetas de crédito https://t.co/c2D22wCwY8
Mexico's antitrust regulator, the Federal Economic Competition Commission (Cofece), has identified 21 banks and financial institutions operating in the country as probable participants in coordinated price fixing related to deferred payment fees on credit cards. Among the institutions implicated are major banks such as HSBC, Santander, and Scotiabank. The regulator's determination suggests these banks may have jointly set fees, potentially undermining market competition and affecting consumers. This investigation aligns with broader concerns about anticompetitive practices in Mexico's financial sector. Additionally, the U.S. Financial Crimes Enforcement Network (FinCEN) is conducting a crackdown on three Mexican financial institutions, highlighting cross-border regulatory scrutiny of Mexican banks and their impact on U.S. financial transactions.
