Two Grupo Consupago subsidiaries, Consupago SA de CV and Opcipres SA de CV, generated 69.9% of all borrower complaints – 63,702 complaints out of 91,024 total – against regulated lenders in 2019, according to financial consumer protection body CONDUSEF. Consupago …
On December 20, 2017, two executive insiders of companies connected to the Chedrauis— Joaquin Gonzalez Gutierrez and Luis Manuel Arcos Herrera— became authorized representatives for HXTI SA de CV, a paycheck loan company. In early 2012, HXTI was owned by …
Read moreHXTI, SA de CV and Chedraui-related companies: What’s the connection?
In 2019, the Veracruz education ministry (SEV) cancelled state and federal contracts with dozens of nomína lending companies, including CIEP Procasa de Xalapa and Consupago. The SEV cancelled contracts with Consupago and CIEP Procasa de Xalapa SA de CV in …
Read moreVeracruz education ministry (SEV) cancelled contracts with nomína lenders in 2019
Members of the Chedraui family through Cubo Capital are in the process of becoming 98.79% owners of Grupo Consupago, up from 49.49% as of November 22, 2019 when the deal was announced by Consubanco, a Grupo Consupago subsidiary. The Chedraui …
Read moreKey details of Chedraui family takeover of Grupo Consupago
In October 2018, Deloitte Mexico auditor Ricardo Garcia Chagoyan received a minimum 2-year ban from auditing US publicly traded firms, for misrepresenting the audit of payroll lender Prestaciones Finmart In March 2019, Garcia Chagoyan signed an audit opinion overseeing …