Card revolving: while BC analyzes the end of the modality, Congress accumulates proposals that defend limiting interest

[ad_1]

Study on the end of the rotary was announced this Tuesday by the president of BC in session in the Senate. Proposals in Congress define, for example, that CNM may establish a limit for interest. The president of the Central Bank, Roberto Campos Neto, said this Thursday (10th) in a session in the Senate that the institution is analyzing the end of the modality known as credit card rotation. Parallel to this analysis, the National Congress accumulates proposals on the subject presented in recent years and which defend, for example, the limitation of interest charged on revolving credit. What is the rotary? When the customer does not pay the card bill in full, the remainder enters the modality known as revolving credit card credit. For example: the invoice is BRL 5,000, but the customer pays BRL 4,000. The remainder, therefore, R$ 1 thousand, goes into the revolving, and interest is levied on that amount. In June, for example, interest on the revolving reached 440%. According to the Central Bank, this level is equivalent to an interest rate of 15% per month. According to the proposal presented by Campos Neto to the senators, the BC analyzes the end of the rotary and the creation of a rate of 9% per month on the amount owed by the customer. “You extinguish the revolving. Those who do not pay the card, go straight to installments of around 9% [ao mês]”, Campos Neto declared to the parliamentarians. Get to know some of the projects in Congress: In the Chamber In the Chamber of Deputies, for example, the deputies Arthur Maia (União Brasil-BA) and Elmar Nascimento (União Brasil-BA) presented proposals with similar content and that attribute to the National Monetary Council (CMN) the power to define the percentage of interest charged on revolving credit. Arthur Maia’s project was added to another proposal, which can now be voted on by the plenary of the Chamber; Finance and Taxation Committee and is still awaiting the designation of a rapporteur. Also in the Chamber, a proposal presented by deputy Lindbergh Farias (PT-RJ) establishes that, in the case of credit card rotation used by individual micro-entrepreneurs, the so-called MEIs, the limit interest will be 8% per month. The project was added to another proposal, which can now be voted on by the plenary of the Chamber. In the Senate In the Senate, Jader Barbalho (MDB-PA) presented a proposal that determines which institutions national financial system can only charge interest on the revolving credit up to the equivalent of twice the value of the Extended Consumer Price Index (IPCA) of the previous month. Measured by the Brazilian Institute of Geography and Statistics (IBGE), the IPCA is the index considered the country’s official inflation. Jader Barabalho’s proposal has been in the Commission for Transparency, Governance, Inspection and Control and Consumer Protection since July and is still awaiting the designation of a rapporteur. Entry into force For real, these proposals presented by parliamentarians need to be approved by the Houses to which they belong, submitted to the analysis of the other House and, if also approved, sent for sanction by the President of the Republic. The president, in turn, can sanction the text according to the wording sent by the National Congress; sanction the text partially; or veto. In case of veto, the National Congress can overturn or maintain the president’s decision.

[ad_2]

Source link