Mr José Augusto Toledo

José Augusto Toledo


Banking & Financial Services

Bank Failures Test Laws and Public Confidence
Guatemala | 23 February 2007

The relatively new Banks and Financial Groups Law has been tested by the failure of two banks in less than six months. The failures have been well handled, even though several disgruntled investors have filed court actions objecting to the measures taken by the authorities. The events have led to a rapid consolidation of the market and demands for increased public scrutiny and regulatory action.