Mexico's warehousing association AMAGDE and credit union association ConUnion are lobbying regulators to allow them to provide a broader range of financial services, local daily El Financiero reported.
AMAGDE wants its members to be able to offer clients financing backed by guarantees, while ConUnion has asked to be given certain regulatory powers over its members.
The credit union association has also asked authorities to clarify regulations governing factoring, lending, and foreign exchange operations. Another long-standing gripe that ConUnion is trying to resolve is opening up the sector to foreign investment.
Non-bank financial institutions such as credit unions, special purpose financial companies (Sofoles) and other financial intermediaries have captured a growing share of the lending market in Mexico in the last five years.
