LatinNews Daily - 24 October 2025

*Mexico’s banking association, Asociación de Bancos de México (ABM), has announced that the three financial firms that were sanctioned by the US in June – CIBanco, Intercam, and Vector Casa de Bolsa – have ceased operations. “The institutions no longer function, they no longer operate, their assets were transferred to other institutions, and the customers were taken care of, which was the right thing to do,” Jorge Arturo Arce, vice president of the ABM, told the local media. This week marked the end of the deadline that the US government had given Mexico to review the alleged illegal operations of the three institutions and take action. “That chapter is closed, it’s over, but that doesn’t mean we don’t have to continue working as a guild, as banks, to continuously improve our standards because these types of concerns continue,” said Arce, in comments widely circulated in the local press.

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