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Mexican President: More Competition Needed in Banking Sector

MEXICO CITY – Mexico’s President Andres Manuel Lopez Obrador said on Friday that the key to bringing down bank commissions is to ensure that the financial institutions face sufficient competition.

“Banks (lower their fees) due to other banks, competition … when there’s no competition, there are abuses,” Lopez Obrador, leader of the left-leaning National Regeneration Movement (Morena) party, said at his daily press conference at the National Palace in Mexico City.

On Friday, Lopez Obrador will participate in the closing ceremony of Mexican banking association ABM’s 82nd banking convention, a gathering of industry leaders that is being held in the Paci…
Banking Industry News

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