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Mexico’s antitrust watchdog accuses banks including Bank of Nova Scotia of joint price fixing

Summary by The Globe & Mail
COFECE began investigation in 2022 and findings state there is evidence to presume parties may have engaged in anti-competitive conduct

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Cofect detects that 21 banks and institutions are responsible for fixing commissions related to deferred payment of credit cards.

·Mexico City, Mexico
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CDMX.- The Federal Commission on Economic Competition (Cofece) found that 21 banks and financial institutions operating in Mexico are likely to be responsible for establishing commissions related to the deferred payment of credit cards.

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The Federal Commission for Economic Competition (Cofece) found that 21 banks operating in the Mexican territory had agreed to fix commissions related to the deferred payment of credit cards. According to a 649-page document, to which Reuters had access, there are sufficient findings to consider that financial institutions would have engaged in anti-competitive conduct. The document derived from an investigation initiated by the autonomous body i…

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The Federal Commission for Economic Competition ( Cofece ) found that 21 banks and financial institutions operating in Mexico are likely to be responsible for establishing commissions related to the deferred payment of credit cards , according to a document prepared by the agency to which Reuters had access. The 649-page document, outlining the findings and listing the institutions and persons allegedly involved, includes the Mexican subsidiarie…

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U.S. News broke the news in New York, United States on Friday, July 25, 2025.
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