The Senate approves Desenrola’s project in a symbolic vote

A few hours before the deadline, the Senate, in a symbolic vote, approved the bill on the DiCenrola debt renegotiation program. The project, which is subject to presidential approval, limits interest on revolving installments and credit card installments.

If the text is not approved this Monday (2), Desenrola will lose its validity. This is because the interim measure (MP) that established the program was published at the beginning of June. During processing in the House of Representatives, the MP was integrated into the project that sets interest ceilings on types of cards.

This week, or early next week, consumers earning up to two minimum wages will be able to check whether the debt is included in discount auctions offered by businesses in the second phase of the program.

“The Senate’s approval of Desenrola Brasil guarantees the continuity of the program. Good news for those who have debts and want to liquidate their name at a discount and in installments,” Finance Minister Fernando Haddad posted on the social networking site X, previously Twitter.

The session was held in an unusual manner, and witnessed a mixed vote. Senate President Rodrigo Pacheco (PSD-MG) allowed senators to register their attendance in the virtual system to ensure a minimum quorum. This is because the majority of parliamentarians tend to be at the electoral bases on Mondays.

Through an agreement between the government and the project rapporteur, Senator Rodrigo Cunha (Podemos – AL), the text was approved without changes with respect to the House of Representatives version. If it receives amendments, representatives will have to analyze the project again, which would make Disinerola lose its authority.

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In addition to regulating the debt renegotiation program, the bill limits interest on revolving credit cards and interest-bearing installments. Rates will be capped at 100% of the debt value if financial institutions do not submit a self-regulation proposal within 90 days. The 100% limit, which doubles the amount of the original debt, was inspired by the experience of countries such as the United Kingdom.

However, the approved project does not foresee the end of interest-free credit card purchases in installments. The Brazilian Banking Federation (Febraban) supports this idea, considering this practice the main reason for the rise in credit card rates, which reached 445.7% annually in August, according to the central bank.

In August, Central Bank President Roberto Campos Neto reported that the agency was considering the expiration of interest-free installments on the card. This news caused alarm in the government. Finance Minister Fernando Haddad said that stopping this practice would harm consumption, as interest-free installments constitute about 70% of commercial purchases.