The rule will apply to institutions that operate with payroll loans; Poder360 asked what the criteria would be and the Ministry of Labor responded that “it will not reveal this data”
The government (PT) wants to suspend banks that charge “abusive interest” in credit operations under the Worker’s Credit program, aimed at the private sector. The Ministry of Labor and Employment refused to say what the rates will be that do not comply with the new rules published on Friday (April 24, 2026). In response to Poder360the body commanded by the minister said that “no will reveal this data”.
Luiz Marinho, 66 years old, is Lula’s colleague in trade unionism in the ABC region. Like the president, Marinho is a member of the PT and has presided over the Metalworkers Union of São Bernardo do Campo (today the entire ABC) from 1996 to 2003.
The punishment for financial institutions is suspension or even cancellation of their license, according to the law. Here is the resolution (PDF – 85 kB).
According to the text of the new rule, banks that exceed “the sum of the weighted average rate for the period with its weighted standard deviation, adjusted by a multiplier factor, established by the Ministry of Labor and Employment”.
O Poder360 sought out the body to clarify what this multiplier factor consists of, but the ministry’s press office said that “will not reveal”.
The average rate and standard deviation will be calculated based on the financial volume of operations contracted in the quarter prior to the date of publication of the resolution. It is not clear whether the Ministry of Labor will use the agency’s own database or the Central Bank’s database as a reference.
ABUSIVE SWEAR
Data from the monetary authority show that the average interest rate on payroll loans for private workers (with free resources) was 56,77% per year (3,82% per month) in March, but there are banks that offer rates above 100% per year, reaching up to 123.54%, according to data from April 6th to 10th.
O Poder360 asked the agency to cite what rates would be considered abusive in the current data scenario. In response to this question, the Ministry of Labor and Employment responded: “The ministry will not reveal this data”.
After insistence from the report, the organization declared: “What is the weighted average with the standard deviation, we will not pass”.
O Poder360 asked the Ministry of Labor and Employment to provide an example of what would be considered abusive rates in fictitious scenarios of average interest rates of 3%, 3.5% and 4.5% per month. The agency refused to explain how the standard deviation and the multiplier factor could define an abusive interest rate: “We will not respond”.
The ministry limited itself to saying that the allocation of abusive interest rates is the work of the Workers’ Credit management committee.
Read the full interaction between Poder360 and the Ministry of Labor and Employment:
Poder360 – In the March scenario (with data already known), what would be the average rate? What would be the standard deviation? And what would be the Ministry of Labor’s multiplying factor?
Ministry of Labor – “The ministry will not reveal this data.”
Poder360 – How is the Ministry of Labor’s multiplier factor calculated? What is the criteria?
Ministry of Labor – “It will be the weighted average plus the standard deviation”.
Poder360 – Can the Ministry of Labor give 3 examples of which banks would be punished in the case of a rate of 3% per month, 3.5% per month and 4% per month? What interest would be considered abusive?
The Ministry of Labor did not respond.
Poder360 – What are the punishments for companies?
Ministry of Labor – “They will be notified, and if they remain suspended.”
Poder360 – Who will do the work of determining that the interest is abusive? The Ministry of Labor or the Central Bank?
Ministry of Labor – “The Ministry of Labor”.
Poder360 – these answers do not clarify any of our doubts.
Ministry of Labor – “What is the weighted average with the standard deviation, we will not go through. We will not answer the question of the 3 examples. And as for the attribution of abusive interest rates, it is the responsibility of the Workers’ Credit management committee to carry out this analysis”.
The proposal was approved by the Payroll Credit Operations Management Committee. The loan modality allows the payment of monthly fees directly from the employee’s payroll. The government proposed the use of the FGTS (Service Time Guarantee Fund) as a credit guarantee in cases of worker dismissal, but the initiative was never regulated.
The delay limits lower interest rates. Credit granted to civil servants and retirees from the INSS (National Social Security Institute) has lower rates due to the security that the person will receive the money to debit the outstanding balance of the debt.
Marinho, in March, that the regulation will only be made in June, more than 1 year after the launch of the Workers’ Credit.
The resolution establishes operational guidelines to identify abusive interest practices and total effective cost, the CET. The measure defines the mechanisms for detecting abusive practices. In credit operations, banks and other financial institutions may only charge:
- remunerative interest;
- financial charges for fines and late payments;
- taxes;
- credit life insurance linked to the operation (provided it is expressly contracted).
The total effective monthly cost of contracted operations is limited to 1 percentage point above the monthly interest rate of the operation. This cost must be calculated according to the calculation methodology established by the CMN (National Monetary Council) and the Central Bank.
O Poder360 contacted the Central Bank, which did not respond until the publication of this report. The monetary authority will have its statement included in this post as soon as they send a statement.
Read the full resolution:
“The Management Committee for Consigned Credit Operations – CGCONSIG, in the use of the powers conferred by article 2, items I, II and III, of Decree No. 12,415, of March 20, 2025, and by article 2-G of Law No. 10,820, of December 17, 2003, as well as that contained in process no. 19965.200226/2026-86, resolves:
“Article 1 This Resolution regulates the parameters, mechanisms and methodologies for detecting abusive interest practices and Total Effective Cost (CET), as well as the charging conditions in payroll credit operations.
“Article 2 Consignee institutions may only charge, in the credit operations referred to in Article 1 of Law No. 10,820, of December 17, 2003:
“I – remunerative interest;
“II – financial charges for fines and late payments;
“III – taxes; and
“IV – credit life insurance linked to the operation, as long as it is expressly contracted by the policyholder.
“Article 3 The monthly CET of credit operations contracted or endorsed through the systems or digital platforms referred to in article 2-A of Law No. 10,820, of 2003, is limited to 1 (one) percentage point above the monthly interest rate of the operation.
Ҥ 1 The CET must be calculated according to the calculation methodology established by the National Monetary Council and the Central Bank of Brazil.
Ҥ 2 The difference between the monthly CET and the monthly interest rate will only include taxes and credit life insurance, if any.
“Art. 4 In the operations referred to in article 2-A of Law No. 10,820, of 2003, carried out from the date of entry into force of this Resolution, the application of interest rates that exceed the sum of the weighted average rate of the period with its weighted standard deviation, adjusted by a multiplier factor, established by the Ministry of Labor and Employment, will be considered an abusive practice.
“Sole paragraph. The average rate and standard deviation referred to in the caput will be calculated based on the financial volume of operations contracted or endorsed through the systems or digital platforms referred to in article 2º-A of Law No. 10,820, of 2003, in the quarter prior to the publication date of this Resolution.
“Art. 5 The Ministry of Labor and Employment must adopt the necessary procedures to comply with the provisions of this Resolution, considering the attributions provided for in article 2-A, § 2, III, “b”, of Law No. 10,820, of 2003 and in art. 10 of Decree No. 12,415 of 2025.
“Article 6 This Resolution comes into force on the date of its publication”.
Febraban takes a stand
The (Brazilian Federation of Banks) said that “the establishment of clear and transparent rules, as well as initiatives aimed at curbing abusive practices”provided for in the publication of the resolution, “contribute to the proper functioning of the payroll-deductible credit market, to the protection of consumers, in line with the sustainability of the segment and its role in the population’s access to credit”.
At this time, Febraban declared that it is analyzing the content of the standard and its impacts together with its members. Here is the federation’s note (PDF – 87 kB).
