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Banking

20 September 2019
Federico De Noriega Supreme Court strengthens interest rate rules

Mexico - Hogan Lovells BSTL SC

The Mexican courts have issued several precedents to eradicate the existence of usury, allowing judges to discretionally reduce interest rates agreed by the parties. However, some of these precedents contradict each other as to whether the usury prohibition applies to default interest. As such, the First Chamber of the Supreme Court recently issued a decision to clarify these inconsistencies.

Authors: Federico De Noriega, Carlos Romero
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