Mexico City, July 27th, 2021.
The National Commission for the Protection and Defense of the Users of Financial Services (Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros) (“CONDUSEF”) enabled a new portal whose purpose is to allow the users of a FinTech Institutions (Instituciones de Tecnología Financiera) (“FinTechs”) to file the electronic filing of claims against the two types of FinTechs contained in the Law to Regulate Financial Technology Institutions (Ley para Regular las Instituciones de Tecnología Financiera) as well as those entities authorized to operate an innovative model.
The process for the attention of the users set forth by the CONDUSEF comprises the following 6 (six) stages:
- Sole Attention Desk: It will start the claim and will serve as a filter that will allow the authority to turn the claims to the corresponding stage, record the necessary data, as well as dismiss those claims that do not fall within its jurisdiction;
- Technical-Legal Consulting: The claim will be submitted to the relevant FinTech with the supporting documentation. No legal issues will be addressed but a prompt resolution will be sought with the Specialized Unit of the corresponding FinTech;
- Conciliation: To be carried out between the FinTech and the user who filed the complaint, being the CONDUSEF the conciliator. In the event that no resolution is agreed, arbitration will proceed;
- Opinion: In the event that the FinTech does not agrees to solve the complaint by means of an arbitration. It consists of a specialized opinion that will detail the validity of the claim and a report regarding the conciliatory procedure carried out;
- Arbitration: In the event that the user and the FinTech have agreed upon it, the product was publicly offered and it is registered before the Arbitration System. It may be carried out before the CONDUSEF or a third party proposed by the aforementioned authority; and
- Free Legal Assistance: In the event that it is necessary to appear before court and that the user proves not being economically able to hire a legal defense, the CONDUSEF will provide a lawyer free of charge.
Users will need to review in the following link https://webapps.condusef.gob.mx/SIPRES/jsp/pub/index.jsp , if the relevant FinTech has an authorization to operate as a FinTech. In the event that the relevant institution does not have the aforementioned authorization, the claim of the user will need to be filed before the Federal Consumer Protection Agency (Procuraduría Federal del Consumidor).
The users will need the electronic signature issued by the Tax Administration Service (Servicio de Administración Tributaria) (SAT), in order to be able to file any claim through the portal enabled by the CONDUSEF, additional to certain personal data as their name, CURP, e-mail, among others. Likewise, the user will need to upload to the portal, the documents with which they will demonstrate the reason for the claim, which may include, but are not limited to, screenshots or electronic files.
The portal for the filing of claims as well as to learn further information provided by the CONDUSEF is https://fintech.condusef.gob.mx/.
Lawyers of the banking and financial practice of our Firm will be delighted to provide you with further information regarding the content of this informative note.
S I N C E R E L Y,
Miguel Ángel Peralta