The Delegated Collection Reform continues to cause controversy in Mexico. It is an initiative that sought to allow banking institutions to directly withhold up to a maximum amount of 40% of employees' salaries for the payment of requested payroll loans. The proposal also stipulates that workers requesting these loans must sign an agreement with their employer to ensure compliance with payments, a process that would be carried out through payroll deductions.
The General Law of Securities and Credit Operations, known as the Delegated Collection Reform, aims to regularize credit operations in the labor sector and prevent the rise of debts affecting millions of Mexicans. These withholdings would encompass the collection of personal loans, insurance premiums, and other financial services, ensuring that no worker dedicates more than 40% of their salary to debt payments.
The Mexican Association of Payroll Companies has emphasized that this legislation could bring significant benefits by establishing a limit on borrowing capacity and guaranteeing a more equitable interest rate. Pablo Santiago Escalante Tattersfield, advisor to AMDEN, stressed in a press conference that the initiative has faced obstacles due to misunderstandings, without considering that this would result in advantages.
Pablo Santiago Escalante commented on the possible implication of family members of legislator Pedro Haces in the initiative, clarifying that no company registered with AMDEM has relatives of the deputy participating in this activity. The proposal, led by organizations from the Treasury and Legislative Studies, was paused in February after deciding to postpone the discussion.
Amid uncertainty about the impact on workers' pockets, there are concerns about whether they will have enough salaries to face these deductions. Escalante Tattersfield emphasized that the deduction should not be a cause for concern, as it is voluntary and seeks to avoid complications in settling debts. The aim of setting a limit on the withheld percentage is to prevent financial setbacks.
