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The Venezuelan bank regulator moved to shut down Banco Federal, a firm linked to the political opposition, on June 14th. The bank is owned by Nelson Mezerhane, a director and founder of Globovisión, the only remaining anti-Chávez television station.
The move to intervene and shutter Banco Federal follows half a year of closures of financial institutions. This touched first banks at the end of last year and the beginning of 2010, and has more recently affected brokerage firms. Unlike Banco Federal, most of the firms closed earlier were run by men closely associated with, but who seemed to fall foul of, the government of Hugo Chávez.
Read more at Financial Services Briefing: “Another private lender shuttered” (June 14th)