Regulatory Alerts2016-05-17 | DOF 5437408Added
Official Letter Revoking Authorization for Union de Crédito del Sur de Jalisco, S.A. de C.V.
The National Banking and Securities Commission revokes the authorization of Union de Crédito del Sur de Jalisco, S.A. de C.V. to operate as a credit union. This decision is based on the entity's failure to meet capitalization requirements, non-compliance with corrective measures, and accounting irregularities as defined in Article 97 of the Credit Unions Law. The revocation follows a process where the entity failed to substantiate its arguments or regularize its financial position despite multiple notifications and opportunities to respond.