Mexico May Crack Down On Credit Card Commissions

Law360, New York (September 26, 2006, 12:00 AM EDT) -- With credit card interest rates as high as 60%, Mexico’s antitrust watchdog announced Monday that it will begin investigating banks and pension funds to see if their commissions break any competition rules.

“We have a generalized perception in Mexico that the commissions are very high, a perception that credit card commissions and credit card interest rates are very high,” said Mexico’s antitrust chief, Eduardo Perez Motta, according to Reuters.

Most banks in Mexico, including Santander, BBVA, Citigroup and HSBC, are foreign-owned, and they are generally thought...
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