The Chamber of Deputies approved this Thursday the reform to the regulation of payroll loans with delegated collection.

The opinion approved with 227 votes in favor, 7 abstentions and 210 against, amends the general laws of Securities and Credit Operations and Auxiliary Credit Organizations and Activities, and the Law for the Protection of the Defense of Financial Services Users.

The initiative endorsed with modifications, and which will be returned to the Senate, proposes to allow the payments required to obtain financing to be deducted directly from the worker’s salary.



The opinion adds a third section called “Payroll Credit with Delegated Collection” to the General Law of Securities and Credit Operations.

The worker who requests a payroll credit, you will have to sign a payment compliance agreement. In the draft, the worker accepts that the amount of his salary and related perceptions may be deducted. Sources of payment will be considered to be the salary earned that derives from the work relationships of the accredited person, the extraordinary earnings of a labor nature and compensation of the same nature and related concepts, as well as fees assimilated to salaries.

In a statement of the Chamber of Deputies It is detailed that “credits granted in accordance with the laws applicable to the operations carried out with their heirs, the Institute of the National Fund for Workers’ Housing (Infonavit), the Institute of the National Fund for Workers’ Housing (Infonavit), the Housing Fund of the Institute of Security and Social Services for State Workers and the Institute of the National Fund for Workers’ Consumption (Fovissste).

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The credits that, charged to the payment sources, are granted in favor of active workers, retirees and pensioners of the Mexican Social Security Institute (IMSS) and the Institute of Social Security and Services of State Workers (ISSSTE) will be left out. of the legal framework applicable to Payroll Loans with Delegated Collection provided by law.

Meanwhile, the National Commission for the Protection and Defense of Users of Financial Services (Condusef) will have the power to regulate this type of credit and will have to create a pattern of promoters to avoid over-indebtedness of the workers.

It should be remembered that last week, the Ministry of Finance and Public Credit (SHCP), through its Banking, Securities and Savings Unit, ruled against this draft opinion.

In a document obtained by this means, dated March 7, the agency in charge of Rogelio Ramírez de la O affirmed that, in case of not making the pertinent corrections to the project, it would benefit in a “disproportionate and inequitable” way to the financial entities that grant this type of financing and would be detrimental to the workers who acquire these loans.

While the Mexican Association of Payroll Companies (Amden), which represents the most representative non-bank entities specialized in this sector, endorsed this initiative.

In an interview, Gustavo Martín del Campo, president of the Amdenhighlighted that this initiative recognizes payroll credit as a regulated product, which would generate certainty for the public, the payroll companies and even the funders of these companies.

(With information from Fernando Gutierrez).

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