Brazil’s 50% Surge in Banks, Fintechs Squeezes Regulator’s Shrinking Workforce

Mounting budget and staffing constraints at Brazil’s central bank’s risk weakening the regulators’ ability to oversee an expanded financial system fresh off the collapse of Banco Master SA.

The regulator has seen its workforce shrink by 42% over the past decade, while the amount of regulated financial institutions has swelled by 50% over the same timeframe. Now, the crunch is expected to worsen.