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The Economics Committee Approved Bill 4802/2023, Which Prevents Abusive Practices Against People Over 60 in Loans and Financing, Strengthening the Older Persons Status and Now Goes to the Chamber of Deputies
In a decision considered important in the Senate, the Economics Committee approved Bill 4802/2023, which strengthens the Older Persons Status and prevents abusive practices in granting credit to those over 60 years old.
The proposal, presented by Senator Ciro Nogueira, aims to guarantee equal access to loans and financing, as many seniors face high rates and unnecessary additional requirements. With the approval, the text proceeds to the Chamber of Deputies for review and represents a step forward in the financial protection of the elderly.
Clearer Rules on Credit for Seniors
The project approved by the CAE establishes that financial institutions cannot impose differentiated conditions on elderly clients. The text prohibits charging higher interest rates for people over 60 and also prevents requiring guarantees, additional collateral, or special terms not requested from younger consumers. This measure strengthens and expands the Older Persons Status, which already prohibits discrimination in banking operations, but did not clearly detail practices related to loans and financing.
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The proposal also provides for specific penalties for those who violate the law. The offender may face imprisonment of 6 months to 1 year, in addition to fines. The measure aims to hinder actions that harm elderly consumers, ensuring equal treatment in financial operations.
Statements and Evaluations in the Senate
The project’s rapporteur in the CAE, Senator Laércio Oliveira, emphasized that the initiative meets an urgent demand from the elderly population. He pointed out that many face barriers even when they have a solid financial history because institutions impose unjustified conditions. For him, the text represents direct support for the elderly and strengthens the fight against abusive practices.
Senator Damares Alves reinforced the importance of expanding legal protection in access to credit. She explained that the Older Persons Status already prevents discrimination in banking operations, but there were still gaps allowing differences in the treatment of seniors in financing and loans. The new wording makes this prohibition more explicit and broadens its application, providing greater legal security.
Measure Strengthens Financial Inclusion
The approval of the project represents a significant advance for the financial inclusion of elderly individuals. This group often faces refusal or unfavorable conditions in loans, even when they have a good payment history. The proposal tends to increase transparency and prevent practices that limit access to credit, especially in banks and financial institutions that work directly with this segment.
Experts point out that the changes help reduce abuses and ensure that elderly consumers have equal opportunities when contracting financial services. The intention is to combat distortions that often affect those who need stable and predictable conditions the most.
Project Goes to the Chamber
After approval in the Economics Committee, the project proceeds to the analysis of the Chamber of Deputies. If there is no appeal for voting in the Senate Plenary, the text will be forwarded directly to the deputies.
In the final reading of the proposal, Rádio Senado recorded the main statements and arguments presented in the CAE. Reporter Marcella Cunha highlighted that Senator Laércio Oliveira emphasized the fight against discrimination and abusive practices, while Senator Damares Alves reinforced the need for clear rules that ensure equality in access to credit and financing.
The approved text makes it clear that financial institutions must treat elderly clients with the same conditions applied to other consumers. The initiative aims to strengthen the Older Persons Status and protect a group that frequently faces unjustified obstacles when requesting loans.
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