The INSS is set to implement a consigned loan auction model that allows retirees to compare offers from different banks, aiming to boost competition and reduce pressure from financial institutions.
The National Institute of Social Security (INSS) in Brazil is introducing a new model for consigned loans aimed at retirees and pensioners, inspired by credit access available for formal workers. This initiative, termed the 'consigned loan auction,' is designed to allow retirees to compare loan offerings from multiple financial institutions before making a decision. By enhancing competition among banks, the INSS hopes to alleviate the pressure that financial institutions exert on beneficiaries.
