Lawsuit Dispute between CIBanco and US Treasury Department, as discussed by Sheinbaum
In a dramatic turn of events, CIBanco, a major Mexican bank, has filed a civil lawsuit against the U.S. Department of the Treasury and its financial intelligence unit, FinCEN. The lawsuit, filed in the U.S. District Court for the District of Columbia, comes in response to being accused of facilitating operations linked to opioid trafficking and being excluded from the U.S. financial system.
The lawsuit, a 37-page document, argues that the sanctions, imposed on June 25, 2025, are equivalent to an "institutional death penalty." CIBanco asserts that the sanctions were imposed without prior notice or an opportunity to defend itself and that the accusations are vague, lacking specific evidence such as individuals, accounts, or transactions to support them.
The bank denies any illegal activity and claims the U.S. government's action threatens its existence as an international bank and risks stranding more than $40 billion in U.S.-owned assets it manages, including trusts, pension funds, and investments.
CIBanco has submitted compliance documentation and explanations of its anti-money laundering programs to FinCEN, emphasising its cooperation in combating illicit activities. However, the bank alleges it was denied engagement or a chance to contest the evidence.
Meanwhile, the U.S. Treasury Department has extended the deadline for the sanctions, allowing more time before full enforcement of the order. President Claudia Sheinbaum Pardo, of Mexico, has stated that CIBanco has the right to file a lawsuit against the U.S. Department of the Treasury.
President Sheinbaum also said she saw the news of the accusations happening in the media and that they have no knowledge of the specifics. Interestingly, there are reports of public offers to buy CIBanco, according to the Secretary of Finance.
As the legal battle unfolds, the future of CIBanco remains uncertain. The bank, which was previously involved in the Maya Train project, is now focused on clearing its name and challenging the U.S. government's actions. The director of the Maya Train is quoted as saying, "We failed twice, but we must not do so in the future."
The Federal Attorney's Office for Preventative Investigation and Fight Against Organized Crime (FGR) is already investigating the matter, adding another layer of complexity to the ongoing saga. As the story develops, updates will be provided to keep the public informed.
