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Brazil mandates phase-out of payroll-deducted credit cards by 2029
Valor Econômico·BR·3 days ago
The Brazilian National Social Security Institute (INSS) has eliminated the mandatory facial biometric verification for retirees and pensioners seeking payroll-deducted loans. The new regulation mandates that financial institutions submit formal credit contracts to validate benefit deductions, shifting the security burden from biometric authentication to contractual documentation.