Mexico's National Commission for the Protection and Defense of Users of Financial Services published the results of its 2025 supervision of nine savings and loan cooperatives (SOCAPS) on financial transparency and the quality of information provided to users for the Refactionary Credit product. After a two-stage review and remediation process, five SOCAPS achieved a score of 10 and two complied partially. The average score rose from 5.2 in the first stage to 8.3 at the end of the supervision. The first stage reviewed contractual documents, advertising and websites against transparency and information quality rules, including customer files containing the contract, summary sheet, amortization table, account statement and proof of transaction. The second stage assessed whether firms had corrected the deficiencies identified in forced compliance notices and demonstrated compliance through supporting documents and arguments. Main breaches included missing descriptions of the transaction and its terms, missing information on the frequency and means for delivering account statements, absent or incorrectly presented total annual cost (CAT) data, interest rates not highlighted, missing total amount payable, missing Adhesion Contract Registry numbers, and incomplete website and advertising disclosures, including contracting requirements and information on the Financial Entities Bureau. Correcting the deficiencies does not exempt institutions from applicable sanctions or other measures. The authority said it will continue strengthening supervisory actions in this area.
CONDUSEF2026-05-25
Mexico's National Commission for the Protection and Defense of Users of Financial Services finds 5 of 9 savings and loan cooperatives fully compliant and average score up to 8.3 in Refactionary Credit transparency review
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published 2025 supervisory results on financial transparency and information quality for refactionary credit at nine savings and loan cooperatives, finding average scores improved from 5.2 to 8.3 after remediation, with five entities scoring 10 and two only partially compliant. Key breaches involved incomplete or unclear contractual and disclosure information, including transaction terms, account statement delivery, total annual cost, interest rates, total amount payable, contract registry numbers, and website and advertising content.