Ending Blind Loans to Aid Crackdown on 323% Rates: Brazil Credit
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Brazilian President Dilma Rousseff took the final step to enact legislation that may help achieve her goal of reducing the highest credit-card rates in the Americas, 16 months after the measure was approved by Congress.
The government published implementation rules today for a law that paves the way for Brazil to establish consumer credit scores for the first time. The changes open the way for local affiliates of Experian Plc and Equifax Inc., the world’s biggest credit bureaus, to compile payment histories that previous legislation barred them from accessing.