09/04/2023 – 22:51
The Chamber of Deputies approved this Monday (4) the urgency for the bill that sets a limit for credit card interest. With the urgent approval, the proposal can be voted in plenary without going through the analysis of the committees.
In addition to interest, Bill 2685/22 included Provisional Measure 1176/23, which creates Desenrola, a federal government debt renegotiation program.
card interest
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The bill’s rapporteur, Deputy Alencar Santana (PT-SP), proposes that the National Monetary Council (CMN) define, within 90 days, the ceiling for interest and charges charged on invoice installments in the revolving and installment modalities. If the limit is not defined within the period, counted from the publication of the new law, the collection of interest and charges cannot exceed the original amount of the debt.
According to the preliminary opinion, the limit for revolving interest will also apply to financial institutions that do not adhere to self-regulation.
In June, according to the most recent data from the Central Bank, interest on the revolving credit reached 437% per annum. In the case of the credit card in installments, the interest was 196.1% per annum.
The project also provides for the portability of credit card debt and even installments. The idea is to stimulate competition in the market so that the consumer has the option of seeking lower interest rates and repaying the debt. This measure also requires CMN regulation.
* With information from the Chamber Agency
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