The Mexican Association of Payroll Companies (Amden), which represents the most representative non-bank entities specialized in this sector, endorses the initiative that is in the Chamber of Deputies and that intends to regulate this type of financing, with the creation of the figure of delegated collection .
In interview, Gustavo Martin del Campo, president of Amdenstressed that this initiative, which is expected to be voted this Thursday in the Plenary of the Chamber of Deputiesrecognizes payroll credit as a regulated product, which generates certainty for the public, the payroll companies and even the funders of these companies.
“With this reform you win because you have a regulated product, which is protected by law, then, the workers win because they have access to credit in a clear and transparent way and the employers win because they offer their workers a good credit , it is an orderly and formal service”, explained Martín del Campo.
A few days ago, the Finance and Public Credit Commission of the Chamber of Deputies approved with 21 votes in favor and 18 against, the opinion with draft decree to the minutes to amend and add various provisions of the General Law of Securities and Credit Operations, of the General Law of Organizations and Auxiliary Activities of Credit, and of Protection and Defense to the User of Financial Services.
The essence of this initiative is to collect the figure of collection delegated in these financings, that is, that a third party (such as an employer) can, with the prior authorization of the borrower, make the entire financing payments from the worker’s salary or benefits. labor or related.
For the president of the Association, which represents 17 nominee companies with assets totaling more than 81,000 million pesos, this initiative establishes the guidelines by law regarding the discounts that borrowers have to make and, furthermore, that said discounts, as well as such as payments and payroll, are made in a timely manner.
“Sometimes employers do not deliver to financial companies the resources obtained from the discount to borrowers… with this reform, if it is approved, it would have to be done immediately,” Del Campo said.
Regulate rates corresponds to Banxico
Last week, this medium announced that the Secretary of Financethrough Banking, Securities and Savings Unit (UBVA), had spoken out against the initiative, since it detected disproportionate and inequitable benefits for payroll companies until measures were adopted to safeguard the balance and balance of workers’ rights.
In this context, the UBVA suggested incorporating an exception so that the borrower can revoke the credit agreement, in the event that the minimum financing conditions exceed by more than 1.40 times the average CAT, of the most recent quarter, applicable to this type of loan. credits.
For Martín del Campo, the only authority empowered in the country to regulate the issue of rates is the Bank of Mexico and it should also be considered that, if the costs of these credits are high, this is because the reference rate has been increasing in recent months.
“I understand that in the opinion there must be something regarding the rates, that the situation be clear; however, it is important to say that the cost of money has been rising, so clarity is required in this regard, because the companies have a cost for the funding, the administration, for those who do not pay and for those who pay late”, highlighted the president of Amden.
Likewise, for the president of Amden, it is not pertinent to include an exception to revoke the mandate that the worker establishes with the lender that grants the loan, as well as with the employer so that the discounts are made in a timely manner, since this would encourage fraud and would be detrimental to the companies granting the loan.
“It is a situation that has not been clearly understood. Fraud has been detected of people who go and ask for the credit and who ask that it not be discounted. This issue seems to be somewhat unfair, but no, it is the payment that is due from do,” said Del Campo.
Finally, the president of Amden stated that said initiative is not unconstitutional as it touches the salary of the accredited worker, nor other perceptions, since this type of credit must be regulated from a commercial and not a labor perspective.
It is expected that this Thursday, March 17, the plenary session of the Chamber of Deputies will vote and approve said initiative and if it is approved, it would return to the Chamber of Senators for voting and final approval.