The article critiques the recent actions surrounding the Comisión Nacional Bancaria y de Valores (CNBV) in Mexico, specifically focusing on legislator Patricia Armendáriz's attempt to secure a financial institution license for her project, Finclu. Contrary to what many believed, the departure of former commissioner De la Fuente has not improved the state's financial oversight, which is indicated by Armendáriz's audacious endeavor. Her past involvement with Financiera Sustentable, which left behind over a hundred compliance issues and severe portfolio recovery problems, raises serious questions about her suitability for leading a new financial initiative.

The author emphasizes the perceived conflict of interest and potential biases within the CNBV, particularly pointing out Armendáriz's longstanding connections with key figures, notably Aurora Cervantes, the former VP of Normatividad at the CNBV. Such relationships have seemingly facilitated Armendáriz's license request while obstructing others, thereby jeopardizing the fairness and integrity of the CNBV's regulatory processes. This situation highlights the intricate webs of influence that can exist within financial regulatory bodies and how personal connections might overshadow professional accountability.

Ultimately, the piece serves as a warning about the risks of allowing individuals with questionable track records to influence the regulatory landscape in Mexico. It calls into question the mechanisms of oversight in the CNBV and the need for more stringent scrutiny of such proposals to ensure that the interests of the finance sector are safeguarded against possible mismanagement and corruption.