More than 10 retail and consumer protection entities will lead a national campaign against the end of interest-free installments on credit cards starting this Tuesday, 21st.
“The “Parcel Yes!” movement aims to preserve a historic achievement for consumers and garner support with as many signatures as possible,” says the joint note.
“The movement is non-partisan, but aims to sensitize political authorities from the Executive and Legislative branches to prevent the economically active population and retailers from being vilified by large banks”, he adds.
Among the entities that joined the initiative are the Brazilian Association of Wholesalers and Distributors of Industrialized Products (ABAD) and the Brazilian Association of Bars and Restaurants (ABRASEL).
The president of the Central Bank, Roberto Campos Neto, defended, in October, the limitation of interest-free installments on the card to 12 installments.
The proposal was presented to representatives from the banking, retail and payment sectors.
The measure is within the scope of discussions for the new credit card revolving model.
The average interest rate charged by banks on revolving credit card operations was 445.7% per year in August.