Banco Central do Brasil (BC, Brazil’s Central Bank) has approved a new package of regulatory measures designed to strengthen consumer protection in credit contracting. Through three new resolutions (BCB 601, 602, and 603), the monetary authority sets stricter standards for loan advertising, introduces tools for debt transparency, and regulates credit offerings linked to Pix (Brazil’s instant payment system) transactions.
These changes directly affect how financial institutions structure marketing campaigns and user journeys in their digital applications. Implementation will take place in phases throughout 2027, requiring technological and operational adjustments from market participants.
Limits on Proactive Advertising: Resolution BCB 602
Scheduled to take effect on March 31, 2027, Resolution BCB 602 focuses on proactive credit offers. This term covers advertisements and direct messages sent proactively by institutions to clients to promote loans and other financial products.
The regulation’s main innovation is requiring institutions to provide a clear, accessible mechanism allowing consumers to opt out of receiving such marketing. In addition, the resolution creates an extra layer of protection for clients identified as financially vulnerable or at risk of over-indebtedness.
For vulnerable consumers, credit offers will require prior, specific, and unambiguous authorization. Furthermore, the products offered must serve the exclusive purpose of improving the client’s financial position, without releasing new funds that increase overall debt. The rule outlines permissible transactions in this context:
- Renegotiation: replacing existing debt with more suitable repayment terms.
- Portability: transferring a credit facility to another institution under applicable rules.
- Product migration: switching from one credit category to another that offers more favorable conditions.
Transparency and the Consolidated Debt Dashboard: Resolution BCB 601
Effective July 1, 2027, Resolution BCB 601 mandates the creation of the Consolidated Debt Dashboard. This tool must be made available to clients to help them visualize their overall debt levels and income commitment.
Before extending new credit, financial institutions must provide detailed simulations of total borrowing costs alongside risk warnings if vulnerable conditions are identified. The dashboard must include:
- Information regarding active credit operations maintained at the institution itself.
- Cost simulations for prospective loans.
- Risk alerts concerning situations that may compromise repayment capacity.
In a subsequent phase, the regulation anticipates expanding the dashboard by integrating data from the Credit Information System (SCR)—a centralized database maintained by the Central Bank—and Open Finance, allowing consumers a consolidated view of their debts across multiple institutions.
Credit Offers via Pix: Resolution BCB 603
Also effective July 1, 2027, Resolution BCB 603 establishes specific rules for offering credit during Pix payment initiation. The objective is to prevent the immediate nature of instant payments from inducing consumers into loans without adequate reflection or a clear understanding of the transaction terms.
Institutions wishing to offer credit tied to Pix transactions must comply with the following requirements:
- Prior consent: credit offers will depend on explicit user authorization.
- Cooling-off interval: a minimum 24-hour waiting period must elapse between opting in and receiving the first credit proposal.
- Simulation tools: providing interactive simulators showing credit terms and costs.
- Account environment: easy access to a dedicated environment where users can review their active credit operations.
Final Considerations
The Central Bank’s new resolutions mark a significant regulatory milestone in the relationship between financial institutions and consumers. By curbing proactive marketing, requiring advance consent, and introducing transparency tools such as the Debt Dashboard, the regulator aims to mitigate over-indebtedness and promote a more sustainable credit environment.
For banks, fintechs, and other industry players, the implementation timeline reflects the technical complexity of the required changes. Market participants will need to review not only their advertising strategies, but also their digital application architecture, ensuring user interfaces incorporate the new dashboards, simulators, and opt-out mechanisms in strict compliance with Central Bank directives.
This content is for informational purposes only and does not constitute legal advice. For guidance on specific matters, consult a qualified lawyer.
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