Brazil: lending & credit regulation

Regulated

Strictly regulated banking sector; no specific fintech lending license; Open Finance mandates data sharing

Lead regulator: Banco Central do Brasil (BCB)
Also involved: CVM (securitization/CRIs) · SUSEP (insurance collateral) · PROCON (consumer disputes)
Core law: Law No. 4,595/1964 (Financial System) · Law No. 15,252/2025 (Consumer Rights)
Entry capital: BRL 100m (Bank) · BRL 50m (Savings Bank) · BRL 10m (Development Bank)
Approval timeline: 6-18 months for banking charter; 3-6 months for credit securitization
Customer assets: Banks only; non-banks must use licensed custodians
Data protection: LGPD (Lei Geral de Proteção de Dados) · ANPD
Sandbox: Yes - BCB Sandbox Regulatório

Brazil maintains a highly concentrated banking sector where lending is a reserved activity for authorized financial institutions supervised by the BCB. There is no specific 'fintech' or 'lending' license; non-banks must partner with banks or obtain a banking charter. Recent regulatory focus has shifted to consumer protection (Law 15,252/2025) and Open Finance, which mandates data portability and credit score sharing to increase competition.

Which licence do you need?

Your activity	Requirement	Capital	Timeline	Authority
Consumer lending	LicenceFinancial Institution Charter^[1][2] Reserved activity; non-banks must partner with licensed banks	BRL 100m (Bank)	6-18 months	Banco Central do Brasil
SME / commercial lending	LicenceFinancial Institution Charter^[1] Commercial lending requires full banking license or BNDES partnership	BRL 100m (Bank)	6-18 months	Banco Central do Brasil
Microfinance	LicenceSavings Bank or Credit Cooperative^[1][3] Pronaf rules apply; credit cooperatives have lower capital floors	BRL 50m (Savings Bank)	6-12 months	Banco Central do Brasil
Buy-now-pay-later	LicenceFinancial Institution Charter^[1] Treated as consumer credit; requires banking license or bank partnership	BRL 100m (Bank)	6-18 months	Banco Central do Brasil
P2P lending platform	LicenceFinancial Institution Charter^[1] P2P lending is not a distinct legal category; requires banking license	BRL 100m (Bank)	6-18 months	Banco Central do Brasil
Credit bureau / scoring	RegistrationSCR Data Provider^[4][5] Mandatory reporting to SCR; Open Finance enables data sharing	—	—	Banco Central do Brasil
Debt collection	LicenceFinancial Institution Charter^[1] Debt collection is part of credit operations; requires banking license	BRL 100m (Bank)	6-18 months	Banco Central do Brasil

New — what changed recently

2026-05-04CMN Resolution No. 5,299 — Establishes new regulatory guidelines for natural person rights in financial services under Law 15,252/2025^[1]
2026-05-04BCB Resolution No. 567 — Mandates advisory services and minimum information disclosure for credit operations to natural persons^[2]
2026-02-20CVM Internal Office No. 3/2026 — Proposes removing non-standardized classification for credit rights in judicial recovery^[6]
2025-11-28Joint Resolution No. 15 — Amends Open Finance rules to introduce detailed provisions for credit operation portability^[4]

Market-entry checklist

1Obtain BCB Banking CharterSecure authorization from Banco Central do Brasil with minimum BRL 100m capital for a bank.
2Register with SCR SystemImplement reporting systems for Credit Risk Data (Document 3040) as mandated by BCB.
3Comply with Open FinanceIntegrate with Open Finance APIs for data sharing and credit portability per Joint Resolution 15.
4Adhere to Law 15,252/2025Implement new consumer rights guidelines and advisory service requirements for credit clients.
5Secure Data Protection ComplianceEnsure full compliance with LGPD and ANPD regulations for handling customer credit data.

Sources

This guide is compiled automatically from 6 primary-source documents published by Brazil's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.