Mexican crackdown
July 22, 2009 | alternatives, industry, international | Comments (0)No, we’re not talking about the crackdown on the drug cartels, we’re talking about the crackdown on bank fees. From the story:
Mexico’s central bank said on Tuesday it will prohibit banks from charging customers fees deemed to be anti-competitive and nontransparent.
The new rules, which take effect Aug. 21, are meant to eliminate unfair practices and cover credit cards, savings accounts and transfer fees.
I don’t think the government, any government, has the expertise to decide what fee is anti-competitive. Certainly, something can be done on transparency, though.
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