Sudeban levies fines on 10 financial institutions

Monday, March 14, 2011

Venezuelan bank regulator Sudeban said it fined 10 companies subject to its supervision during February.

According to a press release from the regulator, the fines rose to a total of 2.22mn bolívares (US$517,000).

The release did not specify which institutions were fined. Venezuelan President Hugo Chávez has recently been involved in a highly visible conflict with the country's banks over credit for new housing projects.

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