The reform prohibits banks from issuing cards without consent and charging commissions or charges for non-contracted financial products.
Mexico City, November 12 (However).- The Chamber of Deputies approved this Wednesday a reform to the Law for the Transparency and Regulation of Financial Services with the aim of prevent that the financial institutions emit credit cards o debit without him consent express of the users.
With 467 votes in favor, zero against and no abstentions, the Plenary endorsed the project presented by the coordinator of Morena, Ricardo Monreal Ávilawho requested that it be considered an urgent resolution. The proposal was waived from formalities and sent to the Senate of the Republic to continue your process legislative.
Monreal explained that millions of people in Mexico have received credit or debit cards that they never requested and that, some time later, they generate annuity charges or default interest. These practices, he noted, have affected the credit history of many users by being negatively reported to the Credit Bureau.
#BreakingMinute | The Plenary of the #ChamberofDeputies approved the initiative that reforms and adds various provisions of the Law for the Transparency and Regulation of Financial Services, regarding the cancellation and issuance of credit and debit cards, issued by… pic.twitter.com/iQTLaeIeeq
— H. Chamber of Deputies (@Mx_Diputados) November 12, 2025
“Many financial credit institutions, through campaigns or through the institution’s own mechanisms, send cards to their homes, to people’s homes, without them having requested them. Then, throughout the year, they charge them annuities and even default interest for not paying that annuity. And in the end, many of these users end up in the negative credit bureau to be able to acquire a loan or acquire some right to financial inclusion,” said Representative Ricardo Monreal in Tribuna.
What does the new reform consist of?
The reform prohibits banks and commercial entities from issuing cards without the user’s express request or authorization, as well as charging commissions, annuities or charges associated with non-contracted financial products.
According to the opinion, institutions must guarantee that all information related to costs, charges and commissions is clear, truthful and sufficient, in accordance with the principles of transparency and consumer protection.
It also prohibits messages or promotions that lead the public to think that the cards have no costs when, in reality, they generate additional commissions or surcharges.
Issuing entities must allow the cancellation of unsolicited cards in person, by telephone or digitally, and offer mechanisms available 24 hours a day, throughout the year, through mobile applications, online banking or web portals.
Once the user requests cancellation, the financial institution must carry out an immediate preventive block to suspend any transaction or associated charge, with the purpose of avoiding operations while the final cancellation is finalized.
The cancellation process must not exceed five business days from the request and must be carried out without any cost, commission or penalty. The institution will have the obligation to deliver to the user a digital or physical certificate that certifies the termination of the contract.
Likewise, it is prohibited to make annual charges, commissions or concepts related to canceled or unused cards, nor may any effects be generated on the credit history due to lack of use or rejection of the product.
In the event that an entity charges undue amounts, it must reimburse them within a maximum period of five business days, counted from the receipt of the user’s claim or from the notification of the competent authority.
Supervision of the provisions will be the responsibility of the National Commission for the Protection and Defense of Users of Financial Services (Condusef) in the case of banks and financial entities, and of the Federal Consumer Protection Agency (Profeco) in the case of commercial issuers.
According to Condusef, during 2024, 251,528 complaints related to financial products were registered, of which 7,594 corresponded to cancellation requests that were not attended to or not applied, becoming one of the most frequent complaints in the country.