Central Bank of Brazil (BCB) proposes a rule to bar non-bank fintechs from using ‘bank’ in their name

A draft under public consultation proposes banning institutions authorized by the Central Bank of Brazil (BCB) from using terms that suggest activities they have no authorization to operate.

 

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This newsletter provides information about legal developments in Brazil to clients and members of Cescon, Barrieu, Flesch & Barreto Advogados. The content included herein is not meant to provide legal advice with respect to any specific matter. We do not undertake to update, supplement or modify the information contained herein.

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