Mexican Banks Targeted by Trump Sold to Continue Operations

Mexican Banks Sold to Continue Operations Two Mexican banks, targeted by the Trump administration for allegedly aiding drug cartel money laundering, have sold significant parts of their operations, the Mexican government announced on Tuesday. The banks, Banco Ahorro Famsa and Banco Bicentenario, were accused by the Trump administration of potentially facilitating money laundering activities. In response, the Mexican government facilitated the sale of these banks to new owners, allowing them to continue operations. The move aims to maintain the stability of the Mexican financial system and ensure the continued provision of banking services to the public, despite the allegations against the banks. The government's decision to facilitate the sales reflects its efforts to address the issues raised by the US administration while preserving the country's financial sector. The sale of these banks is part of the ongoing efforts to address concerns about money laundering and financial crimes in Mexico, which have been a source of tension between the two countries.