Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published the results of its 2025 transparency supervision of payroll loan products offered by eight unregulated multiple purpose financial institutions (SOFOM ENR). After a two-stage review and remediation process, six institutions were found compliant with the rules on financial transparency and information quality for users, and those six received the maximum score of 10. The average score increased from 5.1 in the first stage to 8.9 at the end of the exercise. The first stage reviewed customer documentation, including adhesion contracts, summary sheets and account statements, together with websites and any advertising, for compliance with disclosure requirements. Institutions were then notified of the irregularities through a mandatory remediation program, and the second stage assessed whether the observations had been corrected based on the documents and arguments submitted. The exercise did not assess pricing or product value, including commission levels, interest rates or total cost. The main breaches involved missing or inconsistent terms on early termination, statement delivery, prepayments, prohibited commissions or discrepancies with the RECO commissions register, payment dates, disclosure of ordinary and default interest rates and calculation methods, use of outdated contracts not current in the RECA contracts register, missing content in account statements and amortization tables, and incomplete website disclosures including commissions, Buró de Entidades Financieras information and the required Ministry of Finance non-authorization legend. CONDUSEF noted that correcting the deficiencies does not exempt institutions from sanctions or other applicable measures for the breaches identified and said it will continue supervisory actions in this area.
CONDUSEF2026-05-26
Mexico's National Commission for the Protection and Defense of Users of Financial Services finds 6 of 8 unregulated SOFOMs compliant with payroll loan transparency rules
Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published results of its 2025 transparency review of payroll loans from eight unregulated multiple purpose financial institutions, finding six compliant after remediation and awarding them the maximum score of 10, with the average score rising from 5.1 to 8.9. The review focused on disclosure in contracts, statements, websites and advertising, identified widespread deficiencies in key terms and required disclosures, and did not assess pricing or product value. CONDUSEF said remediation does not preclude sanctions and that it will continue supervisory actions.