Brazil's Central Bank introduces new credit and Pix regulations

The Central Bank of Brazil has approved three resolutions aimed at increasing transparency and preventing consumer over-indebtedness. The new regulations will be implemented in stages between March and July 2027.

Under Resolution BCB 602, effective March 31, 2027, financial institutions must provide clear mechanisms for customers to block credit advertisements and active offers. For consumers identified as financially vulnerable—such as those using revolving credit frequently—banks will require specific, unequivocal prior authorization before making active credit offers. These offers for vulnerable clients will be restricted to products that improve their financial standing, such as debt renegotiation or credit portability, rather than providing new funds.

Resolution BCB 601, effective July 1, 2027, mandates the creation of a Consolidated Debt Panel. This tool will allow customers to consult their total credit operations, view cost simulations, and receive alerts if debt payments compromise a significant portion of their income. Future updates may integrate data from Open Finance and the Credit Information System (SCR).

Resolution BCB 603, also effective July 1, 2027, regulates credit offers made during Pix transactions. Such offers will require prior user consent, a minimum 24-hour interval between authorization and the first proposal, and the availability of credit simulators. If a Pix transaction is returned, any funds from associated credit will be automatically used to offset the debt.