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The INSS suspended four financial institutions, including Banco Inter and Paraná Banco, after evidence of irregularities in payroll loan contracts aimed at retirees.
The National Social Security Institute (INSS) has decided to provisionally suspend the contracts of four financial institutions accused of irregularities in offering payroll loans to retirees and pensioners. The decision, published in the Official Gazette of the Union, affects Banco Inter, Facta Financeira, Paraná Banco, and Cobuccio Sociedade de Crédito.
The measure takes effect immediately and prevents these institutions from offering new loan programs until the investigation is complete. The INSS (National Institute of Social Security) states that the measure seeks to protect beneficiaries from practices considered abusive and to ensure the integrity of the social security system.
Pressure mounts on banks after wave of complaints
In recent months, payroll loans—those deducted directly from retirement accounts—have become a prime target for consumer complaints. Seniors report receiving funds deposited into their accounts. without prior authorization, followed by unrecognized monthly discounts.
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Recent surveys show that more than half of the complaints registered on the consumer.gov.br portal since 2019 involve unsolicited contracts. The remainder are divided between undue charges, hidden fees, and difficulties in canceling.
The situation led the INSS to adopt a stricter stance, especially after it was discovered that outsourced banking correspondents are responsible for a large portion of the fraud.
Recent suspensions indicate tightening of rules
This new round of suspensions isn't an isolated incident. In October, Banco Master was already removed from the payroll loan system. Prior to that, eight other institutions also temporarily lost their authorization.
The move demonstrates that the INSS (National Institute of Social Security) is trying to reorganize the sector and curb commercial harassment of retirees—a long-standing problem that has gained momentum with the rise of digital operations. According to sources close to the agency, the idea is to eliminate the backlog of complaints and impose a new standard of conduct on financial institutions.
Banks react and claim surprise with the decision
Among the affected companies, Banco Inter stated that it was surprised by the decision and is seeking clarification from the INSS (National Institute of Social Security). The institution claims to follow "strict transparency standards" and maintain "absolute respect for its customers, especially retirees and pensioners."
Facta Financeira also said it is in contact with the agency and assured that it complies with all Central Bank and Social Security regulations, but has not yet had full access to the process.
Paraná Banco reported that it is providing technical and legal clarifications and reinforced its "commitments to ethics and responsibility." Cobuccio Sociedade de Crédito did not respond by the time this article was published.
Febraban monitors and promises to strengthen self-regulation
The Brazilian Federation of Banks (Febraban) stated that it is closely monitoring the case and intends to strengthen self-regulation mechanisms in the payroll loan sector. According to the entity, the objective is standardize practices and prevent irregularities, preserving the right of defense of the institutions involved.
“Self-regulation is essential to prevent the problem from recurring and to ensure greater security for retirees,” the federation highlighted in a statement.
INSS CPMI must investigate fraud in consignments
The case reignited the debate about scams and fraud involving loans to Social Security beneficiaries. INSS CPMI, which investigates irregularities in benefits and undue payments, intends to include the topic of consignments in the hearing agenda this month.
Parliamentarians argue that the credit system for retirees requires mandatory digital traceability, with biometric confirmation and automatic blocking of unsolicited offers.
The idea is to create a technological barrier that prevents the opening of contracts without the holder's consent.
A billion-dollar market under scrutiny
The INSS (National Social Security Institute) payroll loan market generates over R$260 billion annually. Interest rates are lower—precisely because of the direct deduction from the benefit—making it the most popular type of credit among retirees.
But the combination of low cost and the vulnerability of the target audience created fertile ground for abuse. In many cases, consumers only discover the loan when checking their bank statement, when payments are already underway.
What changes for retirees
The suspensions do not affect existing contracts, but they do prevent new offers from the aforementioned banks. Anyone receiving calls, messages, or credit proposals from any of these institutions should ignore the contact and, if suspected of fraud, file a complaint on the Meu INSS portal or at consumidor.gov.br.
The institute also reinforced that no employee contacts anyone offering credit and that all transactions must be initiated by the beneficiary.
A clear message to the financial market
With this new suspension, the INSS (National Institute of Social Security) sends a firm signal that it will no longer tolerate abusive practices in the payroll loan sector. New investigations are expected in the coming months, further tightening the crackdown on banks and correspondents operating outside the rules.
Meanwhile, retirees and pensioners—the main victims of this system—continue to wait for something simple, but still distant: loans without deception, harassment, and complete transparency.
I have a loan with Facta Financeira for which I pay 363 reais per month... And another contract for 120 reais per month, which I paid until last month... Next month I don't know what I'm going to do, I'm not following it but I really need help.
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