BRASILIA (Reuters) – Brazil’s National Monetary Council, the country’s top economic policy body, on Thursday regulated a measure passed in October to limit interest rates and financial charges in revolving credit card lines to twice the initial amount of debt.
According to the central bank, the rules establish the definition of technical concepts, and regulate the possibility of credit portability for credit card debts and other payment instruments.
(Reporting by Marcela Ayres; Editing by Kylie Madry)
