Regulatory Alerts2020-06-09 | DOF 5594646Added
Resolution amending and adding various general provisions under Article 115 of the Credit Institutions Law
The resolution establishes requirements for opening low-risk bank accounts for adolescents aged 15 and older without parental intervention, classifying them as Level 2 accounts with a monthly deposit limit of 3,000 Units of Investment. It mandates that these accounts may only receive electronic deposits from government programs or employer-paid salaries and requires financial institutions to verify the identity of the adolescent and notify a parent or guardian of the account opening. Financial institutions must update their Compliance Manuals and automated systems within four to twelve months of the resolution's effective date to implement these changes.