Regulatory Alerts2021-05-21 | DOF 5619057Added · Updated
Resolution modifying the General Provisions applicable to credit institutions
The resolution modifies the General Provisions applicable to credit institutions to reduce compliance costs and promote financial inclusion for Mexican migrants in the United States. It eliminates the requirement for prior authorization from the CNBV for certain remote account openings, lowers the biometric data match threshold from 98% to 90%, and expands accepted identification documents to include passports and consular registration cards issued by the Ministry of Foreign Affairs. Additionally, it authorizes credit institutions to notify customers of account balances upon debit card usage and to send transaction notifications for transfers, tax payments, and cash withdrawals to mitigate fraud risk.