Mexico's Senate aims to pass bills cutting bank fees by end-October -MORENA [Reuters]
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Source: Reuters
Mexico's Senate aims to pass bills cutting bank fees by end-October -MORENA - Reuters 3 Min Read MEXICO CITY, Oct 15 (Reuters) - Mexico’s Senate aims to pass a first raft of bills to regulate fees for financial services by the end of October, said Ricardo Monreal, Senate leader of the ruling National Regeneration Movement (MORENA) party. Last November, shortly before President Andres Manuel Lopez Obrador took office, MORENA lawmakers presented a bill to limit bank fees, sparking an investor backlash that pummeled the peso , Mexico’s S&P/BMV IPC stock index and banking shares. The bill, which is sponsored by Monreal, has since then been wrapped up in negotiations with Mexico’s central bank, the finance ministry and Mexico’s banking association (ABM). In “two weeks (we’ll) pass an initial package of initiatives,” Monreal said in an interview with Reuters on Monday. “We’re going step by step,” he added, saying the first group of bills would change 32 articles and three laws. If approved
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