Economics
Mexico Regulator Defies Critics With Probe Into Bank Collusion
- Palacios, who runs anti-trust office, sees job as patriotic
- ‘Lack of competition and corruption often come together’
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Mexico’s antitrust agency, tasked with cracking down on monopolies that hinder economic growth, is facing the biggest test of its three-year history as it probes allegations of collusion at the country’s biggest banks.
Alejandra Palacios, who runs the office known as Cofece, has been lambasted by columnists and commentators who say she’s “slow,” “ridiculous,” “weak” and “at the mercy of her enemies.” Opponents have accused Palacios of “overstepping” her mandate, and said she and her staff don’t have the knowledge to undertake financial investigations.