2 LARGE MEXICAN BANKS WILL SETTLE MONEY CHARGES

Two of Mexico's biggest banks have agreed to plead guilty to criminal
charges of money laundering, officials said Monday, bringing a swift
end to the most important legal cases stemming from a major
investigation into the movement of illegal drug profits.

Officials said the banks, Grupo Financiero Bancomer SA and Grupo
Financiero Serfin SA, will forfeit millions of dollars already seized
by the government and pay fines of $500,000 each. In return for their
pleas, which are to be entered today in U.S. District Court in Los
Angeles, the banks will probably be allowed to continue business in
the United States, the officials said.