Background on Sofipo CAME and its Relevance
Sofipo CAME, a prominent financial entity in Mexico, has recently faced challenges that have left many savers concerned about their investments. The company, which ranked as the ninth-largest entity in terms of customer numbers by December 2024, offered attractive interest rates exceeding 15% annually. However, the entity paused operations in April without providing clients with any response or updates to regulatory authorities.
Sofipo CAME’s Proposed Actions
In response to these concerns, Sofipo CAME announced its cooperation with the National Banking and Securities Commission (CNBV) to address the situation transparently. The company stated its commitment to paying savers’ deposits through the Protection Fund, which covers up to 25,000 Units of Investment (UDIs)—equivalent to approximately 211,000 pesos by April 30, 2025.
Despite this commitment, numerous savers reported that their investments surpassed the mentioned limit due to Sofipo CAME’s high-interest offerings. The company acknowledged these concerns and pledged to utilize the Protection Fund to find a solution in the short term.
Savers Plan Meeting with Mexico’s Secretary of the Interior
In light of these developments, affected savers organized a meeting with the Secretariat of the Interior (Segob) on May 16, involving CNBV representatives. This agreement came after savers blocked both directions of Insurgentes Sur at Plaza INN, aiming to deliver a petition and request a meeting with CNBV President Jesús de la Fuente Rodríguez.
Although the capital’s police force dispersed the protest after four hours, six representative savers managed to secure a meeting with CNBV officials, including Eugenio Laris. However, savers reported that the officials provided limited information due to legal restrictions.
Previous Protests and Their Impact
This protest is part of a series organized by savers and CAME employees, including demonstrations outside the Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros (Condusef) offices and even in front of Palacio Nacional.
Key Questions and Answers
- What is Sofipo CAME? Sofipo CAME is a significant financial entity in Mexico that offered high-interest rates on investments but paused operations without providing clients with updates or responses.
- What is the Protection Fund? The Protection Fund is a mechanism established to cover up to 25,000 Units of Investment (UDIs), equivalent to around 211,000 pesos by April 30, 2025, for savers affected by Sofipo CAME’s situation.
- Why are savers meeting with Segob? Savers arranged a meeting with the Secretariat of the Interior (Segob) to discuss their concerns and request a meeting with CNBV President Jesús de la Fuente Rodríguez, following blocked roads and a petition delivery.
- What happened during the protest? Although the protest was dispersed by police, savers managed to secure a meeting with CNBV officials who provided limited information due to legal restrictions.
