Regulatory Alerts2021-08-06 | DOF 5625900Added · Updated
Resolution modifying the General Provisions applicable to credit institutions
The National Banking and Securities Commission modifies the General Provisions applicable to credit institutions to exempt electronic consumer credit files from requiring valid borrower identification, provided the client was previously identified during account opening or service contracting. The resolution also expands the definition of residential mortgage credit to include loans for acquiring land for housing construction and incorporates these loans into capital requirement calculations. These changes take effect the day following publication in the Official Gazette of the Federation.