[REVISION HISTORY]

Brazil Open Finance and credit protection evolution

Updated 4 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-24 00:21 UTC → 2026-10-24 17:05 UTC · added ~~removed~~

The Open Finance system in Brazil, regulated by the Central Bank, facilitates the authorized sharing of financial data—including accounts, credit, and investments—between participating institutions to provide customers with a broader view of their financial profiles. Following the initial implementation of data sharing, the National Monetary Council (CMN) and the Central Bank approved new regulations to enhance security and transparency. These updates introduce stricter requirements for financial participants, particularly regarding legal entities and businesses. New measures include the necessity for specific consent for each partner company, more rigorous monitoring of partnerships, and the authority to suspend data sharing if security risks are identified. The updated rules also allow for staggered data sharing authorizations to accommodate corporate processes requiring multiple representative approvals. These regulatory changes aim to clarify institutional responsibilities and reduce interpretive discrepancies regarding data sharing protocols. Recent joint resolutions from the CMN and the Central Bank of Brazil (BC) further reinforce these security and transparency measures. A significant development in these updated rules is the shift of accountability toward high-level management. Boards of directors and executive officers are now directly responsible for ensuring compliance, monitoring technological partnerships, and managing cyber risks within the Open Finance ecosystem. Expanding on these consumer-centric protections, the Central Bank and the CMN have approved additional regulations to combat predatory lending and over-indebtedness. These ~~new~~ measures include the creation of a consolidated debt dashboard to help consumers visualize financial obligations, mechanisms for customers to block active credit advertisements, and stricter rules for credit offers made during Pix transactions. These credit-related regulations will be phased in, with active credit offer rules beginning March 31, 2027, followed by the debt dashboard and Pix rules on July 1, 2027.

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