Amendments to the Federal Consumer Protection Law.

July 26, 2006
Amendments to the Federal Consumer Protection Law.

On June 6, 2006 amendments to the Mexican Federal Consumer Protection Law werepublished in the Official Journal of the Federation. The amendments establish that parties not regulated by financial law, and which carry outmutual insurance transactions with interest and pledges of assets, must register their form contracts (Adhesion Contracts) before the federalconsumer protection authorities, as well as to make available on a permanent basis the terms and conditions contained in their contracts,including annual interest rates. In addition, the amounts of fines that may be imposed on those companies failing to meet the law’sobligations have been increased.

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