Article 123 of the Federal Constitution provides that the application of labor laws corresponds to the authorities of the entities, except –among other cases– in matters related to banking and credit services that are the exclusive responsibility of the federal authorities.
The IAPs provide banking and credit services, since they are entities that carry out acts of social assistance with legal personality and their own private assets, while the banking and credit service can only be provided by credit institutions, either commercial banks or commercial banks. developmental.
The former require the authorization of the Federal Government, the National Banking and Securities Commission (CNByV), with the prior agreement of its Board of Governors and a favorable opinion from Banco de México.
The latter are entities of the Federal Public Administration, constituted as national credit societies.
