Background on Sofipo CAME and its Significance
Sofipo CAME, a Sociedad Financiera Popular (Popular Financial Society), was once a prominent financial institution in Mexico, serving up to 1.3 million clients nationwide. The organization offered various financial services, including savings accounts and credit options.
However, recent developments have led to the revocation of Sofipo CAME’s license by the Comisión Nacional Bancaria y de Valores (CNBV) after 101 days of investigation into accounting irregularities that posed risks to savers’ interests.
Reasons for License Revocation
The CNBV’s decision to revoke Sofipo CAME’s license stems from allegations that the institution ceased reporting information since April, reportedly due to insolvency and a suspected embezzlement exceeding 2,000 million pesos.
- Irregularities: The CNBV found accounting irregularities that jeopardized savers’ interests.
- Lack of Information: Sofipo CAME failed to provide necessary information to dispel the revocation cause, according to the CNBV.
- Insolvency and Embezzlement: The organization allegedly faced insolvency issues and a significant financial misappropriation.
Initiating the Payment Process for Savers
Alongside the license revocation, the Fondo de Protección de Sociedades Financieras Populares y de Protección a sus Ahorradores (Protection Fund for Popular Financial Societies and Savers) announced the start of the process to help clients recover their resources.
The fund will cover up to 25,000 Unidades de Inversión (UDIs) calculated as of September 19, 2025, equivalent to approximately 213,560 pesos per person.
- Timeline: Affected individuals have 180 days from the Diario Oficial de la Federación’s announcement publication to submit their Solicitud de Pago de Obligaciones Garantizadas (POG).
- Requirements: Applicants must complete the individual request form, available at CAME offices, the Fondo de Protección website, or digital media. They need to provide basic information, choose a payment method (check or electronic transfer), and submit relevant documentation.
Exclusions from Payments
The Protection Fund clarified that payments will not be made to members of Sofipo CAME’s administration council, commissioners, or high-ranking officials. Additionally, funds will not cover irregular operations or illicit activities.
Key Questions and Answers
- What led to the revocation of Sofipo CAME’s license? The CNBV found accounting irregularities that posed risks to savers’ interests, along with allegations of insolvency and embezzlement.
- Who is eligible for compensation? Clients with savings accounts are eligible for compensation, while those who only had credit contracts are not.
- What is the maximum compensation amount? The Protection Fund will cover up to 25,000 Unidades de Inversión (UDIs), equivalent to approximately 213,560 pesos per person.
- How do I apply for compensation? Complete the individual request form, provide necessary information and documentation, and choose a payment method (check or electronic transfer).
- Who will not receive compensation? Members of Sofipo CAME’s administration council, commissioners, and high-ranking officials will not receive funds. Also excluded are operations linked to irregularities or illicit activities.
