Post by account_disabled on Mar 7, 2024 11:41:53 GMT 1
Banco BMG will enter the payroll loan market in the state of São Paulo, by decision of the st Public Finance Court of São Paulo, in anticipation of protection . Until this decision, only Banco do Brasil could offer payroll loans to the million employees across the state. Judge Márcia Helena Bosch accepted the bank's request “given the verisimilitude of the allegations (offense to free enterprise, free competition, among other principles of the economic order)”. The merit will still be analyzed.
This is not the first action proposed by BMG bank against state and municipal laws that allow the monopoly of payroll loans. In Mato Grosso do Sul, Bahia, Rondônia, Maranhão, Bahia and Paraná, according to lawyer Ricardo Magno Bianchini da Silva, who represents BMG, the bank managed to enter this market.
According to the Ministry of Social Security, resources allocated to pensioners and retirees in January this year exceeded the number recorded in January R$ billion in loans were contracted, compared to R$ billion in January of the year past, corresponding to an increase of %. While the number of hires in was higher: ,, compared to ,, operations in
Last year, payroll-deductible credit operations carried BTC Number Data out by INSS retirees and pensioners totaled R$ billion. The result was % higher than in , when R$ billion were released.
Exclusivity
On August , the Administrative Council for Economic Defense, Cade, decided that Banco do Brasil can no longer sign exclusivity contracts to grant loans to employees of Brazilian states and municipalities. And it imposed a daily fine of R$ million for agreements signed after its determination. The Council also opened an investigation against the state bank to verify whether there was abuse in the definition of the interest rate charged.
In the request presented to the st Public Finance Court of São Paulo, BMG's defense used as an argument to enter the consigned credit market Circular , of the Central Bank, which “prohibits financial institutions from entering into agreements, contracts or agreements that prevent customer access to credit operations offered by other institutions”. The rule was published in the Official Gazette on January th.
According to lawyer Ricardo Bianchini, exclusivity also violates the Consumer Protection Code, the principle of free competition, provided for in article of the Federal Constitution, in addition to the Public Procurement Law, since generally financial institutions that offer credit to Servers are not chosen through a bidding process. BMG's defense also maintains that all exclusivity contracts in force in the country must be broken.
This is not the first action proposed by BMG bank against state and municipal laws that allow the monopoly of payroll loans. In Mato Grosso do Sul, Bahia, Rondônia, Maranhão, Bahia and Paraná, according to lawyer Ricardo Magno Bianchini da Silva, who represents BMG, the bank managed to enter this market.
According to the Ministry of Social Security, resources allocated to pensioners and retirees in January this year exceeded the number recorded in January R$ billion in loans were contracted, compared to R$ billion in January of the year past, corresponding to an increase of %. While the number of hires in was higher: ,, compared to ,, operations in
Last year, payroll-deductible credit operations carried BTC Number Data out by INSS retirees and pensioners totaled R$ billion. The result was % higher than in , when R$ billion were released.
Exclusivity
On August , the Administrative Council for Economic Defense, Cade, decided that Banco do Brasil can no longer sign exclusivity contracts to grant loans to employees of Brazilian states and municipalities. And it imposed a daily fine of R$ million for agreements signed after its determination. The Council also opened an investigation against the state bank to verify whether there was abuse in the definition of the interest rate charged.
In the request presented to the st Public Finance Court of São Paulo, BMG's defense used as an argument to enter the consigned credit market Circular , of the Central Bank, which “prohibits financial institutions from entering into agreements, contracts or agreements that prevent customer access to credit operations offered by other institutions”. The rule was published in the Official Gazette on January th.
According to lawyer Ricardo Bianchini, exclusivity also violates the Consumer Protection Code, the principle of free competition, provided for in article of the Federal Constitution, in addition to the Public Procurement Law, since generally financial institutions that offer credit to Servers are not chosen through a bidding process. BMG's defense also maintains that all exclusivity contracts in force in the country must be broken.