Overview
- The U.S. ban that blocks transfers involving the three Mexican firms took effect on October 20, ending the final extension granted since the June designations.
- Vector began moving client accounts, balances and 21 investment funds to Finamex on October 21, effectively closing its operations after months of client outflows.
- CIBanco is in liquidation under IPAB after its banking license was revoked, with insured deposit payments underway up to the legal coverage limit.
- Intercam kept its banking license but saw a significant portion of operations acquired by Kapital Bank, while StoneX completed the purchase of its U.S. advisory and brokerage units.
- Mexican authorities and banking leaders say the U.S. has not shown public evidence to substantiate the allegations, as institutions tighten anti–money laundering controls following steep asset declines reported by the CNBV.