Infonavit and its new rules was an important protagonist of the finance section throughout 2021. Another important event was the recognition of Raquel Buenrostro, who appeared in the “Global Tax 50” dedicated to the most important people in tax matters to world level.
one. BBVA Mexico alerts clients to fraud
Through its Twitter account, BBVA informed its clients that new frauds against account holders continue to emerge. They reiterated that the bank never requests the personal identification number (PIN) used in ATMs and as an electronic signature, nor the security code (CVV) printed on each debit or credit card.
two.Infonavit Council approves new credit rules
The Institute of the National Housing Fund for Workers (Infonavit) announced new rules for granting loans. They announced that land may be acquired and greater access to financing will be sought by the right holders.
The properties purchased through Infonavit must have paved access, green areas, urban equipment, adequate mobility options, definitive connection to electricity and drinking water.
3. In the event of a death, who can request the resources of your Afore?
When a worker dies, the funds that he accumulated in his Retirement Fund Manager (Afore) may be transferred to whoever he or she has designated as his economic dependents. They can be the widow or the widower or concubine or common-law partner as long as they depended economically on the worker.
In the case of workers affiliated with the IMSS, their children under 16 years of age or up to 25 years of age may be beneficiaries if they are studying and are not married. If the child has a disability, there is no age limit to receive the funds. In the ISSSTE, the children will be able to receive the money if they are under 18 or 25 for the students. And also without age limit if you have a certified disability.
Four. Alert of risks due to payroll credit reforms
The Senate approved the reform for payroll credits. The changes consist of holding the employer responsible for the collection of the credit granted by a financial institution. The employer could respond for the borrower, at the risk of being seized, without the need for a commercial lawsuit involved. In addition, the following will be considered as sources of payment: the pension or life annuity, fees or any consideration that derives from a commercial relationship.
5. Citigroup loses lawsuit to recover $ 500 million it mistakenly transferred to Revlon
A federal judge in the United States said Citigroup cannot recover $ 500 million of its own money that it mistakenly transferred to creditors of cosmetics maker Revlon. The judge’s reason was that they were final and complete transactions, not subject to revocation. Some creditors returned the money they sent them, 10 asset managers refused.
6. Raquel Buenrostro, head of the SAT, joins the Global Tax 50 list
Raquel Buenrostro appeared in the international magazine “Tax Review” within its “Global Tax 50” ranking. The list is dedicated to the world’s leading people in tax matters. It is the first time that a Mexican authority appears on the list. The recognition of Buenrostro is due to the high levels of collection that it has achieved despite the Covid-19.
7. Infonavit changes scoring system
The Institute of the National Housing Fund for Workers (Infonavit) announced changes in its scoring system. Before 116 points were required, now 1,080 but the way to obtain them was also modified. Now a year working in the same company will no longer be required to grant the loan. Likewise, it is taken into account that the employer complies in a timely manner with its responsibilities.
In the case of workers who do not wish to apply for their loan, they will be able to receive the money generated in the housing subaccount.
8. Retirement begins for the first generation afore
During 2021 retirement began for people who began their working life in 1997; that is, the first generation registered with the Retirement Fund Administrators (Afores). It is estimated that by the end of 2023 around 300,000 will have processed their retirement.
Under Law 97, to retire you required 1,250 weeks, which is approximately 25 years of contributions to access a guaranteed minimum pension. As of 2020 there are at least 750 weeks, which means 15 years of contributions.
9. Infonavit already operates with new interest rates: Carlos Martínez
The Institute of the National Housing Fund for Workers (Infonavit) began operating with new interest rates. In accordance with the salary level of the borrower, the percentage can range from 2% to 10.45% per year. It means that the highest rate was reduced from 12% to 10.45%. With these changes, Infonavit seeks greater inclusion and access to credit.
10. Oxxo will no longer be a correspondent for Citibanamex
Mexico’s largest convenience store chain, Oxxo, will no longer carry out Citibanamex banking operations. In other words, since May customers cannot make deposits or payments to credit cards. Citibanamex suggested that its account holders use digital banking to carry out their transactions. However, Oxxo will continue to operate the Saldazo debit card that is backed by Citibanamex. In 2019, Banorte also broke its alliance with Oxxo.
