From September, financial ones will be able to perform activities of fintechs (financial technology companies) of credit and payment institutions (which move payments but do not offer loans). The National Monetary Council (CMN) approved on Thursday (24) a resolution which modernizes the rules of financial and allows the incorporation of a number of services, regulated by other standards.
Financials will also be able to act as an accreditation, a payment institution that bridges between traders and credit and debit card flags. They will also be able to participate in the capital of other credit companies.
In a note, The Central Bank (BC) reported that the new rules improve competitiveness and create incentives for fintechs credit and payment institutions become financialas they expand their business in a “segment more compatible with their strategies, operations and customers”.
The CMN clarified that finances can issue real estate credit letters (LCI) and structured operations certificates (COE), and can also raise funds abroad. They could already do this type of operation based on their legal and normative milestones, but the rules, distributed in various acts, were incorporated into the single text.
Public consultation
The resolution consolidates the rules of credit, financing and investment companies, popularly known as financial. According to the BC, the new rules result from a public consultation opened in 2024, which was attended by 33 respondents, including representative associations of institutions authorized to operate by the BC, financial, law firms and even individuals.
In addition to consolidating norms that were dispersed by the law, the resolution revoked obsolete rules in force since 1959. According to the Central Bank, the normative act incorporates all operations currently allowed to financial, considering its focus on the credit market, and includes activities of more recent institutions, such as payment institutions and fintechs of credit, potentially expanding the competitiveness of the segment.
In a statement, the BC explained that the new resolution brings more legal certainty, by unifying the rules, and seeks to “properly position credit, financing and investment in relation to institutions with more limited scope of action”.
