A petition defending interest-free installments reaches 500,000 signatures

In total, 24 associations are part of “Parcelo Sim!”. In addition to Abrasel, entities such as the CNDL (National Confederation of Retail Managers), Proteste and Sebrae, which support small and micro businesses, have joined the movement. “It makes no sense to change the rules just to please the big banks,” says Decio Lima, president of Sipri Nacional.

CMN will set rules to limit interest on the card’s revolving card. The ceiling was provided for in the Desenrola Brasil Law, passed by the President Lola (PT) in October. According to the rule, the interest charged by banks in the event of late payment of the bill must not exceed 100% of the value of the original debt. Today, this rate exceeds 400% annually.

The discussion led to questions about interest-free installments. For example, the Vibraban Bank (Brazilian Banking Association) made the reduction of revolving credit conditional on restrictions on interest-free installments. However, some associations associated with the retail and consumer protection sector question this connection. So, they came together to create the “Yes to Eviction!” movement.

Banks cannot determine the rules of the game alone. Trade, and above all, consumers, must be heard in this discussion. It is clear that the population, especially the most economically vulnerable, does not want to give up the possibility of making purchases in interest-free installments. It is a historic achievement for Brazilians.
Paolo Solmucci, President of Abrasel