CIP Americas covered a congressional proposal of financial reforms in Mexico aimed to increase competition in the banking sector and create incentives for lending. Critics argue that the reforms could increase consumer debt in Mexico, leading to publicly funded bailouts of foreign-owned banks.
Among the key objectives of the bill is "improving trial procedures seeking faster resolution of controversies and granting enhanced rights to lenders through the courts, which are likely to expedite collections," according to Gardere Attorneys Roberto Arena, Charles E. Meacham, Marco Nájera and Joaquín Pani of the Mexico and Latin America Practice Group.
