Regulatory Alerts2021-05-07 | DOF 5617805Added · Updated
Resolution amending the general provisions referred to in Article 115 of the Credit Institutions Law
The resolution amends the general provisions of Article 115 of the Credit Institutions Law to authorize credit institutions to receive US dollars in cash from individuals in specific municipalities or boroughs with significant remittance flows. Eligible entities may accept up to $14,000 USD per client per calendar month, provided the transactions are conducted through branches or commissioned agents located in the designated areas. The Secretariat will publish the list of eligible municipalities via an electronic system, and the resolution entered into force the day after its publication in the Official Gazette.