Overview
- Banco Inter, Facta Financeira and Cobuccio signed a term of commitment with the INSS that permits a resumption of consignado operations while administrative cases continue.
- The lenders must immediately stop charging or offering prestamista insurance, by any name, in new contracts and refinancings tied to INSS benefits.
- Any amounts found to have been improperly charged will be returned after administrative proceedings that guarantee full defense and adversarial process.
- The INSS had halted new consignado registrations for these institutions on October 15 during an inquiry into possible improper insurance sales.
- Officials describe the move as part of a broader cleanup of consignado practices, citing a prior deal with BMG to reimburse beneficiaries and recent product changes at other banks.