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Brazil: lending & credit regulation

Regulated

Brazil lending & consumer credit: BCB/CMN dual oversight; strict consumer protection under Law 15,252/2025

Lead regulator:
Banco Central do Brasil (BCB)
Key law:
Law No. 15,252 of November 4, 2025
Last updated:
2026-07-12

The lending and consumer credit sector in Brazil is strictly regulated under the dual oversight of the National Monetary Council (CMN) and the Central Bank of Brazil (BCB). The CMN sets broad policy and interest rate caps, while the BCB handles prudential supervision, licensing, and operational rules. Recent regulatory activity is dominated by the implementation of Law No. 15,252/2025, which establishes comprehensive rights for natural persons using financial services.

The regulatory framework imposes strict consumer protection measures, including mandatory advisory services, transparency requirements, and caps on installment payments relative to income. The BCB has issued specific resolutions (e.g., No. 564 and No. 567) to enforce these standards, prohibiting registration fees in certain operations and mandating assistance for clients with persistent overdue debts.

Beyond consumer credit, the BCB and CMN actively manage specialized credit lines for agriculture (Pronaf), infrastructure, and public sector entities through frequent updates to the Rural Credit Manual and specific resolutions. The system relies heavily on the Credit Information System (SCR) for risk monitoring and data reporting.

Who regulates

  • Banco Central do Brasil (BCB)

    Primary supervisor for financial institutions, credit operations, and consumer protection enforcement.

    [1][2][3]

  • Conselho Monetário Nacional (CMN)

    Sets national monetary policy, credit conditions, interest rate caps, and licensing frameworks.

    [4][5][2]

Core laws & rules

  • Law No. 15,252 (2025)

    Establishes regulatory guidelines for the rights of natural persons using financial services, including salary portability, special low-interest credit, and consumer protection measures.

    [5][2][3]

  • Rural Credit Manual (MCR) (Ongoing (Amended frequently))

    The core regulatory document governing rural credit operations, including Pronaf, Pronamp, and Proagro programs, updated regularly by CMN resolutions.

    [6][7][8]

Licensing & registration

  • Financial Institution Authorization

    Entities must be authorized by the CMN and supervised by the BCB to conduct credit operations. Specific programs (e.g., Pronaf) require compliance with mandatory resource sub-requirements.

    [1][9]

  • Special Reduced-Interest Credit

    Operations under Law 15,252 require strict eligibility criteria and transparency. Monthly installments must not exceed 35% of the borrower's income.

    [2]

Restrictions & warnings

  • Registration fees are explicitly prohibited in financing operations related to Provisional Measure No. 1,359.

    [10]

  • Financial institutions are prohibited from financing projects involving the suppression of native vegetation in rural credit operations.

    [11]

  • Monthly installments for special reduced-interest credit operations under Law 15,252 are capped at 35% of the natural person's income.

    [2]

Direction of travel

  • Regulatory focus is shifting towards enhanced consumer protection, data transparency via Open Finance, and strict environmental compliance in rural lending.

    [11]

  • The BCB continues to refine credit risk data reporting (SCR) to improve monitoring of mortgage, agricultural, and public sector credit exposures.

    [12][13]

Sources

  1. BCB Normative Instruction No. 762 — Amends BCB Normative Instructions Nos. 428 and 430, defining accounting entries for Active Compensation and Shareholders' Equity in the Accounting Standard for Regulated Institutions · 2026-07-10
  2. BCB Resolution No. 564 — Characteristics and Requirements for Special Reduced-Interest Credit Operations under Law No. 15,252 of November 4, 2025 · 2026-05-04
  3. BCB Resolution No. 567 — Measures for Advisory Services and Minimum Information to Natural Person Clients for Credit Operations under Law No. 15,252 of November 4, 2025 · 2026-05-04
  4. CMN Resolution No. 5328 Amends CMN Resolution No. 5,325, of July 3, 2026, on financing lines for compliant Fies beneficiaries · 2026-07-10
  5. CMN Resolution No. 5299 — Establishes Guidelines for Regulating the Rights of Natural Persons Using Financial Services · 2026-05-04
  6. BCB Normative Instruction No. 758 — Amends MCR - Document 1 to adjust deadlines for record changes and guide financial institutions on procedures for reversing disqualifications in the Rural Credit Operations System · 2026-07-08
  7. CMN Resolution No. 5323 — Adjusts Rural Credit Rules for Pronaf for the 2026/2027 Agricultural Year · 2026-06-30
  8. Central Bank Resolution CMN No. 5324: Financial Charges and Credit Limits for Rural Credit Lines · 2026-06-30
  9. BCB Normative Instruction No. 723 — Updates Annex II (Mandatory Resource Codes) of the Rural Credit Manual · 2026-04-16
  10. CMN Resolution No. 5319 - Amends Resolution CMN No. 5,304 to Prohibit Registration Fees in Financing Operations under Provisional Measure No. 1,359 · 2026-06-25
  11. CMN Resolution No. 5,293 - Special Conditions for Working Capital Financing for Agro-Pastoral Cooperatives under Pronaf · 2026-04-23
  12. Central Bank of Brazil Instruction Normative No. 735 of May 6, 2026 · 2026-05-06
  13. Normative Instruction BCB No. 733 of May 4, 2026 · 2026-05-04

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This guide is compiled automatically from 13 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.