SHCP opens public consultation on the contracting of services to third parties by credit institutions
15 julio 2021

MEXICO

On July 14, the Secretary of Finance and Public Credit (SHCP in Spanish) opened, through the National Commission for Regulatory Improvement (CONAMER in Spanish), a public consultation that makes amendments to the General Provisions applicable to Credit Institutions. The draft bill proposes changes in the contracting of services and third-party commissions by credit institutions to facilitate the provision of services necessary for their daily operations. The consultation will be open until at least August 11 and interested parties will be able to submit their opinions via the following link.

Among the amendments proposed in the text, the following stand out:  

  • The provisions may not apply to the contracting of manufacturing or distribution services for inactive credit cards that have a temporary Personal Identification Number (PIN), biometric information database management services, to manage standardised application programming interfaces that allow the sharing of open financial data, among others.
  • In relation to activities that involve acting for the general public, third parties contracted by the Institutions must act in the name and on behalf of the Commissioning Institution at all times.
  • Any request for information or corrective measure that the National Banking and Securities Commission (CNBV in Spanish) may determine as a result of supervision shall be carried out directly on the Institution concerned, with the possibility of ordering audits or visits if necessary.
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