MEXICO SOLIDARITY NETWORK
WEEKLY NEWS AND ANALYSIS
MAY 23-29, 2005

ZAPATISTAS CALL FOR BOYCOTT OF BANCOMER
http://www.mexicosolidarity.org/News%20and%20Analysis/2005/#31-May%2030%20-%20June%205,%202005

BBVA Bancomer, one of Mexico's largest and most profitable banks, issued orders in mid-May to close eleven accounts containing funds for humanitarian projects in Zapatista communities. The bank accounts are held by Enlace Civil, a federally registered non-profit that administers donations for education and health projects in indigenous communities in Chiapas. Bancomer, which is owned by the Spanish company Banco Bilbao Vizcaya Argentaria (BBVA), initially accused the Zapatistas of money-laundering but later retracted the charges. Bancomer responded to repeated requests by reporters and Enlace Civil for an explanation with an arrogant affirmation of their right to close bank accounts at any time without reason. Several of the accounts in question receive funds solely from the governments of Finland, Denmark and Pais Basque. Several other accounts receive funds from sister organizations in Italy, Spain and the United States, and individual donations from Mexican citizens. The Zapatistas accused Bancomer of participating in low intensity warfare by threatening the very existence of health and education projects in indigenous communities. BBVA Bancomer is currently under investigation for tax evasion, opening secret accounts, fraudulent accounting practices, illegal pension funds, money laundering, illegal electoral campaign contributions, bribery, and other major infractions. The Frente Zapatista called for a boycott of Bancomer, and by week's end an undetermined number of accounts had been closed in solidarity. The Mexico Solidarity Network calls for a complete boycott of Bancomer, and we encourage account holders to move their holdings to another financial institution. In the US, BBVA Bancomer operates Bancomer Transfer Services (responsible for 45% of the immigrant remittances sent from the US to Mexico), Valley Bank (with six offices in the Los Angeles area), and Laredo National Bank and South Texas National Bank (with over 40 offices in Texas). BBVA Bancomer also owns Homeowners Loan Corporation. If you have accounts or services with any of these businesses, the Mexico Solidarity Network encourages you to cancel them. Be sure to let them know that you are acting in solidarity with the Zapatistas.

MEXICO SOLIDARITY NETWORK
WEEKLY NEWS AND ANALYSIS
MAY 30 - JUNE 5, 2005

BANCOMER BOYCOTT GROWS

The boycott of Mexico's largest bank, Bancomer, grew this week. Members of Congress called for removal of the branch located in the Congressional building, and several universities began campaigns to end teacher pay and student scholarships via the bank's automatic deposit system. Hundreds of thousands of accounts are held by teachers and students throughout Mexico, and the university campaign promises to have an impact on Mexico's most profitable and largest financial institution. Earlier this month, Bancomer closed bank accounts held by Enlace Civil, a non-governmental organizations that provides funds for health and education programs in Zapatista communities. Bancomer is owned by Spanish transnational Banco Bilbao Vizcaya Argentaria (BBVA). Bancomer is currently under investigation for tax evasion, opening secret accounts, fraudulent accounting practices, illegal pension funds, money laundering, illegal electoral campaign contributions, bribery, and other major infractions. The Frente Zapatista called for a boycott of Bancomer, and by week's end an undetermined number of accounts had been closed in solidarity. The Mexico Solidarity Network calls for a complete boycott of Bancomer, and we encourage account holders to move their holdings to another financial institution.