MEXICO CITY (AP) — Mexican stocks appeared headed for a second day of losses after the party of President-elect Andres Manuel Lopez Obrador floated a proposal to prohibit some commissions charged by private banks.
Mexico's benchmark IPC index was down about 2.3 percent in midday trading Friday, after dropping 5.8 percent in the previous session.
The Mexican peso dropped one percent against the U.S. dollar Thursday.
Mexico's Banco Base attributed the setbacks in financial markets to the Senate proposal, which would prohibit charging minimum-balance and electronic transfer fees.
Senators from Lopez Obrador's Morena party say Mexican banks get one-third of their income from fees.
In an apparent damage-control effort, Lopez Obrador's financial governance team said Thursday that the bill would be subject to further study.