Regulatory Alerts2016-01-19 | DOF 5422966Added · Updated
Office Order Revoking Authorization for Union de Crédito General del Golfo, S.A. de C.V. to Operate as a Credit Union
The National Banking and Securities Commission revokes the authorization of Union de Crédito General del Golfo, S.A. de C.V. to operate as a credit union due to failure to meet capitalization requirements, non-compliance with corrective measures, and insufficient capital. The decision is based on the entity's negative net capital, accounting system deficiencies, and the rejection of its capital restoration plan. The revocation is grounded in Articles 97 (fractions II, III, VI, VIII, and XIV) of the Credit Unions Law.
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