Wednesday , June 23 2021

Morena proposes and freezes Commission initiatives in banking



An initiative that was published early on the Senate's website to ban banks withdrawing any commissions, one of their main sources of income, made noise during the morning and afternoon on this Thursday, which caused stocks of listed banks will show significant downturns.

The initiative was presented by Morena's bench in the Senate, with the help of Ricardo Monreal and Bertha Alicia Caraveo, and abandoned to the Finance Committee after noon.

Given the nervousness that existed in the markets and the lobby of representatives of financial groups, Monreal said, at his request, that he agreed to listen to the union and stated that the initiative would not be approved until that sector.

"It does not affect anyone, we will act responsibly. Do not be nervous either the banks or the stock exchange," said the legislator in the afternoon.

Legislators called the banks' "alarming and excessive" abuse to their customers. Morena suggested that they stretched from three to 18 concepts that would prohibit the collection of bank charges. Ricardo Monreal informed that the reform will not be approved during the current regular sitting ending on the last day of the current year.

On the other hand, legislator Ricardo Monreal Avila said that despite the pressure received, the reform will be completed and will not pass a decade ago when he promotes similar legal changes that failed.

nervousness

The nerves were not too small. A large part of bank revenue derives from fees. In 2017, according to the National Commission for the Protection and Defense of Financial Services (Condusef), commercial banks received 108,000 million pesos for this concept. The agency says that the Mexican banking sector has registered 5 310 commissions. In fact, this body, as Mario Di Costanzo is still facing today, a few months ago said that there was room for banks to reduce their commissions burdened customers.

Morena's initiative, presented in the gallery by senator Alicia Caraveo, based on information from Condusef itself, pointed out that Mexico's bank ranked third in Latin America to record higher profits compared to its total income of charging commissions to its customers. (With information from Rolando Ramos and Alberto Molina)

Important income

Condusef figures reveal that 2017 the bank's entry amounted to Pt 108,000 million, 8% more than 2016. The majority of these, 75 103 million, derived from loans granted.

And within the granted credit products, the credit card that generates the most revenue from commission costs, with PN 62 596 million (83% of the total commissions for all credit products).

"The payment of the annuity (of the credit card) to the users corresponds to 25% of the bank's credit income," states Condusef.

The rest of the income from collection of commissions derives from terms such as deposits and services and other unspecified interest rates.

For Mario Di Costanzo, Condusefos president, the proposal to withdraw fees from banks is possible, except in three cases: the one who is not charged with a credit card because the aim is that there is less money on the street; The postponement of moratorium interest for five days, given that the lack of payment culture was encouraged and controlled.

For the official, it would also be ideal that the ban on the collection of certain commissions be extended to other non-bank brokers such as Sofomes, Sofipos, credit unions and savings banks, as they are very high.

Regarding Morena's initiative in the Senate to prohibit the collection of certain commissions, the Association of Banks of Mexico informed that it will analyze the content of the project to identify its extent, identify possible consequences and dialogue with the actors. relevant.

In a short statement, the union agency ratified its commitment to providing the best service and offering the best products to its customers.

He emphasized that the coordinated work of regulators and legislators is important in strengthening the transparency and information for its users, about the products and services offered, to further intensify the competitive environment for the benefit of customers and users.


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