By: André Jerusalem

On October 13, Bacen approved resolution BCB No. 155/21, which establishes the principles and procedures that financial institutions and consortium administrators must have towards their clients.

Consortium administrators and payment institutions must develop and implement an institutional customer relationship policy. In compliance with the principles of responsibility, ethics, transparency and diligence, such policies must promote greater credibility for the institutions, as well as greater reliability and transparency for the customer, ensuring that the level of frustration between the parties decreases.

BCB Resolution No. 155 will come into force on October 1, 2022, providing enough time to adapt the institutional policy of payment institutions and consortium administrators.

Finally, BCB Resolution No. 155 is in conjunction with other standards relating to procedures with customers, such as CMN Resolution No. 4,949, of 2021. Both aim at greater harmony between the financial system and its customers, aligning interests and generating greater transparency.