The National Banking and Securities Commission (CNBV) has decreed a “temporary managerial intervention” at the Mexican banks CIBanco and Intercam after both were accused by the U.S. Department of the Treasury of laundering money for Mexican drug cartels.

The CNBV, the Finance Ministry (SHCP), the Bank of Mexico (Banxico) and the Institute for the Protection of Bank Savings (IPAB) said in a joint statement on Thursday that the CNBV governing board decreed the intervention, explaining that it “has the objective of replacing” the two banks’ “administrative bodies and their legal representatives for the purpose of safeguarding the rights of savers and clients of these institutions.”

The three financial institutions “have collectively played a longstanding and vital role in laundering millions of dollars on behalf of Mexico-based cartels and facilitating payments for the procurement of precursor chemicals needed to produce fentanyl,” Treasury said.

FinCEN accused Intercam executives of meeting “directly with suspected Jalisco New Generation Cartel members to discuss money laundering schemes” in 2022. At least some of the executives with that bank as well as CIBanco and Vector will presumably lose their jobs due to the intervention decreed by CNBV.