The Treasury Commission of the Chamber of Deputies (Cámara de Diputados) approved the bill of the Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) (“Fintech Law”)

On February 21, 2018, the Treasury Commission of the Chamber of Deputies (Cámara de Diputados) approved the bill of the Financial Technology Institutions Law (Ley de Instituciones de Tecnología Financiera) (“Fintech Law”) with twenty-two votes in favor and one against. It is expected that in the following days, the Chamber of Deputies will hold a general vote to approve the Fintech Law, the last step before it is passed. The draft bill, in addition to creating the Fintech Law, will also modify nine existing laws, including the Financial Institutions Law.