Brazil tightens consumer credit backed by wages and pensions

Tuesday, July 19th 2011 - 01:15 UTC

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Brazil's central bank on Monday tightened rules on credit card loans backed by wages and pensions which households are increasingly using as a source of long-term borrowing. Read full article

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Jefferson Michaelis
Amazing....in Brazil, consumers pay annual rates of up to 200% for normal credit card loans, the highest borrowing costs for that segment among the world's major economies!
Jul 19th, 2011 - 03:07 pm - Link - Report abuse 0
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