Banco Santander’s global digital transformation has led it to Mexico, where the bank has agreed to acquire U.S. Bancorp’s Elavon Mexico merchant acquiring unit for about $84 million.
Tatiana Clouthier, one of the most powerful lawmakers Mexico, is backing a campaign that's spread jitters through financial markets: make the banks charge less.
CFO John Gerspach said he's not worried about legislation in Mexico to ban retail banking fees becoming law based on recent comments by the nation's president.
Mexico's next president wants to prohibit banks from charging ATM and other fees. That could be bad news for Citigroup and other banks with large retail networks in the country.
At a time when Donald Trump is threatening to withdraw from Nafta after labeling it the worst trade deal ever, Mexico's biggest bank is tapping one of its original negotiators to become its next chairman.
Cyber attackers attempted to penetrate Mexico's electronic payment systems Friday, forcing three banks to enact contingency plans, according to people familiar with the matter.
The simple act of moving money can have a big impact on any political movement, so banks and payment networks are often caught up in issues of national importance. Here are some recent instances where payments and politics came head-to-head.
Money laundering in Latin America is said to be worsening and a corruption probe in Brazil adds to the worries, but Latin American banks are fighting hard to preserve business with U.S. banks.
