Overview

• The INSS issued precautionary suspensions on October 16 via dispatches in the Diário Oficial da União.
• The measure covers Banco Inter, Paraná Banco, Facta Financeira and Cobuccio, blocking only new consignado offers.
• Officials say the action seeks to cease irregularities and safeguard the public interest pending the outcome of ongoing inquiries.
• Current loan agreements for retirees and pensioners continue with payroll deductions as contracted.
• Banco Inter said it was surprised by the decision and is in contact with the INSS to understand the reasons.