The Chamber approves the basic text of the credit card interest cap

If, after approval by the Senate, the law is approved, the banking sector must submit a proposal within 90 days after the law is published. The CMN (National Monetary Board), affiliated to the central bank, is responsible for regulating the proposal of banks.

After this period, the project specifies that the interest charged cannot exceed the total amount of the debt – that is, the maximum fee charged will be 100% of the amount owed. According to the central bank, the total average interest charged by banks on revolving credit cards increased from 437 percent to 445.7 percent annually, an increase of 8.7 percentage points in the June-July period.

In recent days, interlocutors from the banking sector have been pressuring Santana to change the installment plan for interest-free purchases.. However, the MP said he would be against the change.

Opens

Convention to vote on Desenrola Brasil as a bill. Initially, a debt renegotiation program was implemented Lula’s government It was included in a provisional measure, but was included in the statute dealing with interest on a revolving loan after agreement between the Labor administration and Congress.

Since July, banks and credit financial institutions have been able to register in Desenrola Brasil. The program, which consists of two tracks with different renegotiation terms for each audience, runs until December 31.