Mexico's National Banking and Securities Commission — the Comisión Nacional Bancaria y de Valores, or CNBV — decreed the temporary managerial intervention of two Mexican banks, CIBanco and Intercam Banco, and of brokerage Vector Casa de Bolsa on 26 June 2025. The intervention was enacted under Article 129 of Mexico's Banking Law, a day after the United States Financial Crimes Enforcement Network, known as FinCEN, issued orders under the FEND Off Fentanyl Act identifying both banks, together with Vector Casa de Bolsa, as being of primary money laundering concern in connection with illicit opioid trafficking.
A joint statement was issued by the CNBV, the Finance Ministry (SHCP), the Bank of Mexico and the deposit protection agency, the Instituto para la Protección al Ahorro Bancario (IPAB), announcing the measure, under which the banks' boards and management were replaced by appointed managers pending resolution.
US ORDERS AND MEXICAN RESPONSE
The CNBV's use of Article 129 of the Banking Law provides a legal mechanism for placing an institution under the direct administrative control of a government-appointed manager, displacing the bank's board and executives while the situation is assessed and resolved.
DEPOSITORS AND DURATION
Depositors are protected by the IPAB guarantee scheme, which covers balances up to the applicable limit.
The outcome for both banks remained to be determined under the ongoing administrative intervention. The authorities did not say how long the intervention would last.