Honduran Regulator Rejects Mexican Bank License

The Honduran bank regulator (CNBS) has rejected the application of Mexican Banco Azteca for a license to operate in Honduras. The regulator cited the bank’s failure to disclose pending charges of fraud against Azteca’s owner, Ricardo Salinas, in the US. Salinas has been accused by the US Securities and Exchange Commission (SEC) of defrauding minority shareholders of over $100 million.