Fintech
New regulations for Brazilian fintech lenders
Jul 26, 2024 9:40 AM 8 min read (Updated: Jul 26, 2024 9:41 AM)
Good Friday! Today we talk about more flexible regulations for fintech lenders. The epidemic of silent suicides among police officers. And the struggles of Brazil’s chemical industry.
☕ If you like our work and want to give us a boost, you can fill our reporters’ coffee cups. Supporters get exclusive benefits! Find out more.
New regulations for fintech financiers
Regulators have made life easier for fintech lenders. Illustration: Lerbank-bbk22/Shutterstock
The National Monetary Council (NMC) this week Approved changes introduced by the Central Bank in a 2022 resolution that sets out the operating rules for two types of fintech credit institutions: direct credit companies (SCD) and peer-to-peer lending companies (SEP).
👉 Because matter. The changes expand financing options for SCDs and pave the way for SEPs to diversify their operations, which in both cases means more credit opportunities for companies in Brazil. The changes take effect in August.
Changes. SCDs can now participate in Brazil’s Pronampe program to support small businesses and the FGI fund, which is fueled by public credit and serves as a guarantee for loans to small and medium-sized businesses, managed by the country’s national development bank, BNDES.
- The federal government has put 500 million reals (USD 88.76 million) into the fund in May, which could allow up to…