$86.4M Mexican Government Bonds Antitrust Settlement

Mexican banks settled bond price-fixing claims for $86.4 million. Six banks -- Santander Mexico, BBVA Mexico, Citibanamex, Deutsche Bank Mexico (now Banco Citi Mexico), HSBC Mexico and Bank of America Mexico -- are paying $86.4 million to settle claims that they fixed prices on peso-denominated Mexican Government Bonds from 2006 to 2017. This settlement is for investors who personally traded these bonds -- institutional and individual investors alike -- not for bank customers generally. It has no connection to any other, unrelated settlement involving Bank of America or HSBC listed elsewhere on this site; this case covers only Mexican Government Bond trading.

Do I Qualify?

You may be eligible if:

• You personally purchased, sold or exchanged peso-denominated Mexican Government Bonds (CETES, Bondes D, UDIBONOS or BONOS)
• The transaction was with Santander Mexico, BBVA Mexico, Citibanamex, Deutsche Bank Mexico (now Banco Citi Mexico), HSBC Mexico, Bank of America Mexico, or an affiliate of any of them
• The transaction occurred between January 1, 2006 and April 19, 2017
• You were domiciled in the U.S. or its territories, or domiciled elsewhere but entered into the transaction in the U.S. or its territories
• This is an investor settlement -- merely banking with one of these institutions does not qualify you
• You file a valid claim, or already filed one under the 2021 Barclays/JPMorgan notice for this case, by January 4, 2027

You must provide your tax identification number and a summary table of your peso-denominated Mexican Government Bond trading volume by maturity during the class period. Trade-level records such as broker statements, trade confirmations or Bloomberg confirmations are not required to file, but the administrator may request them later.

What Happened?

Six Mexican banks -- Santander Mexico, BBVA Mexico, Citibanamex, Deutsche Bank Mexico (since renamed Banco Citi Mexico), HSBC Mexico and Bank of America Mexico -- agreed on August 12, 2026 to pay $86.4 million to settle a class action alleging they conspired to fix prices on peso-denominated Mexican Government Bonds from 2006 to 2017, both by overcharging on newly issued bonds resold after auction and by widening the bid-ask spread on bonds traded with investors. The banks deny wrongdoing. This is the third settlement in the case: Barclays paid $5.7 million and JPMorgan paid $15 million in earlier 2020 settlements, bringing total recovery to $107.1 million. The court granted preliminary approval on August 19, 2026; a fairness hearing is set for December 3, 2026.

How to File Your Claim

1. File online at the official settlement website (mgbantitrustsettlement.com) by January 4, 2027, 11:59 p.m. ET, or mail a paper Proof of Claim and Release postmarked by that date
2. Provide your tax ID number (SSN, EIN or foreign equivalent) and a summary table of your peso trading volume by bond maturity -- trade confirmations are not required to file but may be requested later
3. Each legal entity must file its own claim
4. A trustee or custodian filing on someone else's behalf must attach proof of its authority to act
5. Visit the official claim form: https://mgbantitrustsettlement.com/Online

How Much Will I Actually Get?

Eligible claimants share pro rata in the $86.4 million fund after deductions for attorneys' fees (class counsel is requesting about 29% of the fund), expenses, service awards and notice/administration costs. Each claimant's share depends on duration-adjusted trading volume: every transaction is sorted into one of 31 categories by the bond's remaining time to maturity, multiplied by a risk-based factor, and summed. No per-claimant estimate has been published. The settlement is non-reversionary -- if approved, none of the $86.4 million returns to the banks.

Last reviewed: October 17, 2026 | Information verified from court records and official settlement documents.

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