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Senate Approves Bill That Prohibits Banks From Denying Credit to Seniors Based on Age or Health Condition. Proposal Criminalizes Discrimination and Provides for Fines and Imprisonment for Offending Institutions.
On June 25, 2025, the Human Rights Commission (CDH) of the Federal Senate approved a bill that promises to change the relationship between seniors and the financial system in Brazil.
The text makes discrimination against people over 60 years old a crime in credit, financing, or bank loan operations, a silent but recurring practice, according to consumer advocacy groups.
The proposal, presented by Senator Jaques Wagner (PT-BA), amends the Penal Code and the Statute of the Elderly, including penalties for banks, finance companies, and brokers that refuse credit solely based on the age or health conditions of the applicant.
What the Bill States
The bill PL 3.332/2023 — establishes that it will be a crime to deny credit or impose excessive restrictions solely on the basis of age, disability, or clinical condition of the elderly.
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The prescribed penalty is six months to one year of detention, in addition to fines and administrative sanctions imposed by the National Consumer Protection and Defense Agency (Senacon).
The proposal also prohibits financial institutions from charging higher interest rates, requiring additional guarantees, or imposing more severe conditions on seniors when there is no proven technical or financial justification.
“Population aging requires that the state and the market adapt. The elderly should not be treated as a risk, but as citizens with full rights,” declared Senator Jaques Wagner when presenting the text.
Financial Discrimination Against Seniors
According to the Brazilian Institute for Consumer Defense (Idec), thousands of seniors are rejected by banks every year in requests for financing, debt renegotiation, or the opening of payroll loans.
The justifications range from advanced age to health conditions considered “risky.”
A survey by the Federal Public Defender’s Office (DPU) showed that, between 2022 and 2024, the number of complaints of financial discrimination against seniors increased by 47%.
A large part of the cases occurs in payroll loans and cards linked to the INSS, where banks impose limits or automatic refusals without formal explanation.
The Impact of the New Rule
If finally approved, PL 3.332/2023 should deeply change the credit market for elderly people. The proposal does not require banks to grant loans without analysis but prohibits decisions based solely on age criteria.
Consumer law experts say the measure will bring more transparency to financial relationships and reduce the covert discrimination that still persists in part of the banking system.
According to attorney Henrique Cunha, consultant for the Brazilian Bar Association (OAB), “the elderly today are doubly vulnerable: as clients and as being marginalized in credit. This project balances the game and imposes responsibility on institutions that still treat aging as financial risk.”
Status of the Legislation
After approval in the CDH, the bill goes to the Committee on Economic Affairs (CAE) and then to the Senate Plenary. If approved, it will go for analysis by the Chamber of Deputies before being sent for presidential sanction.
Senators in favor of the proposal argue that the measure complements the Statute of the Elderly, created in 2003, which already provides protection against discrimination but does not directly address the financial system.
“Denying credit based on age is denying dignity,” stated Senator Paulo Paim (PT-RS) during the vote. “We are correcting a historical distortion that treats the elderly as unable to manage their economic lives.”
Reactions From the Banking Sector
The Brazilian Federation of Banks (Febraban) stated in a note that it is monitoring the issue closely and recognizes the importance of financial inclusion for the elderly population, but warned of the need to “ensure regulatory balance” in risk assessments.
Despite this, market analysts consider that the proposal does not hinder the granting of credit, only prevents automatic discrimination. In practice, institutions will still be able to deny requests, as long as it is based on technical criteria and properly justified.
What Changes in Practice
If the text becomes law, banks and finance companies will have to:
- Provide a formal and documented justification in cases of credit refusal to seniors;
- Avoid generic exclusion practices, such as automatic system locks based on age;
- Offer the same conditions for analysis and renegotiation granted to other groups;
- And may be fined and criminally prosecuted in case of proven discrimination.
A Historic Step in Elder Rights
With the advancement of the project, Brazil takes an important step to combat financial ageism — discrimination based on age.
The measure places the country on par with initiatives already adopted in the European Union and Canada, where financial institutions are required to treat credit as a citizen’s right, not as a privilege.
For public policy experts, the proposal represents a milestone. “Population aging is irreversible. Ensuring access to credit, housing, and consumption is ensuring citizenship,” summarized public defender Márcia Lins in a hearing on the topic.
Se for verdade o que vai ter de filho e neto querendo que o pai, mãe avó ou avó que estão com fim próximo querer os empréstimos nos bancos não vão ter grana suficientes
Sempre achei um absurdo a discriminação. Fiz um financiamento na caixa aos 60 e a caixa já determinou que vou morrer com 80, financiamento de 20 anos. A cada ano que passa o seguro aumenta, pois vou morrer com 80. E o pior o FGTS que tenho lá é maior que minha dívida. Recebo 3% + TR ao ano do FGTS. e pago10% + TR de juros. Total desrespeito