Three measures and one deadline: March 31, 2027. That is what stands between Brazilian consumers and new rules from the Banco Central, the country's central bank, aimed at ending the phone calls and messages in which banks push loans nobody asked for. The package was announced on Friday (23), two days before the presidential runoff, and targets abusive credit offers that feed household over-indebtedness, according to Folha de S.Paulo.
Under the new rules, financial institutions must give customers a clear way to block credit advertising and unsolicited offers. Customers in more vulnerable financial situations, or at risk of excessive debt, get extra protection: they can only receive proposals with prior, specific authorization.
Even with authorization, any offer must improve the consumer's financial condition, G1 reports. Debt renegotiation, loan portability (moving a debt to a bank charging lower interest) and switching to better products are allowed. Offering fresh money to someone already at their limit is not.
What is an active credit offer
An active credit offer is when the bank takes the initiative to push a loan, by phone, app or message, without the customer having asked. It is the opposite of the consumer shopping around and choosing where to borrow. The central bank noted that the rule does not block that kind of spontaneous search, nor contracts initiated by the customer.
"The rules open a set of measures aimed at widening the protection of citizens in credit relations, promoting families' financial well-being and mitigating the risks tied to costlier credit modalities in the makeup of their debts," the Banco Central said in a statement.
The announcement, first reported by Folha, comes as household debt has become a campaign issue, with President Lula and challenger Flavio Bolsonaro competing with relief proposals for indebted voters ahead of Sunday's (25) runoff. The three measures only take effect in March 2027, under the next administration, giving banks just over five months to adapt systems and sales teams.