INSS Strikes Deal to Bill Banks for Consignado Operations, Recoups R$148.4 Million

Overview

• INSS reached an agreement with Febraban and ABBC to restart charging banks for operational costs tied to payroll-deductible loans, immediately regularizing R$148.4 million.
• The retroactive payment covers 2022–2024 (R$45.8 million, R$46.9 million, and R$55.7 million), and future charges will be allocated yearly based on each institution’s share of consignado volume.
• The institute says the measure strengthens governance, ensures legal compliance, and will not harm Social Security beneficiaries.
• In a parallel enforcement action, INSS is withholding more than R$2 billion linked to about 254,000 Banco Master loans over irregular contracts and may refund retirees if authenticity is not proven.
• INSS scheduled a meeting next week with the bank’s liquidator to review documentation, as the consignado system counted about 65 million active contracts as of December 2025.