The National Social Security Institute (INSS) signed a commitment with Banco BMG SA to correct practices related to the offering of payroll loans to retirees and pensioners. 
The agreement provides for the reimbursement of amounts unduly charged and the improvement of hiring and service procedures.
According to an INSS note released this Thursday (30), around 100 thousand beneficiaries will have returned more than R$7 million, which will be deducted directly from their invoices.
“The term reinforces the Bank’s commitment to transparency, governance and continuous improvement of the customer experience, including measures aimed at greater security and clarity in hiring”, says a note from BMG.
The institute informed that the objective is to guarantee compliance with the rules that govern payroll loans and protect the rights of policyholders.
Among the measures agreed, the bank must expand the use of video calls when taking out loans and payroll cards, carried out both by bank correspondents and by its own branches. The deadline for adopting the procedure is 90 days.
Video calls must record the beneficiary’s expression of will and clarify any doubts about the conditions of the contract.
The maximum credit limit must also be adjusted to 1.6 times the value of the benefit’s monthly income, as provided for by INSS regulations. Until the systems are adapted, control will be done manually.
Another determination is the immediate suspension of the sale of credit life insurance or other products linked to payroll loans.
The bank also committed to taking actions to reduce the number of complaints in its service channels, seeking greater transparency and customer satisfaction.
“The initiatives reflect the Bank’s purpose of strengthening the institutional relationship with the INSS, promoting an ethical, responsible and customer-centered credit journey, in line with the best corporate governance practices”, informed BMG.
The term also establishes that the bank will not be able to share personal data of beneficiaries with third parties, except when there is express authorization from the holder or legal provision.
The agreement is valid for an indefinite period of time, and failure to comply with obligations may result in sanctions against the bank.
