Brazils Digital Lending Boom Strains Households
A surge in digital lending across Brazil has left a record number of households in debt. Aggressive credit expansion by fintechs and high interest rates have sparked voter concerns ahead of upcoming elections.
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A record 82% of households in Brazil are trapped in debt as digital banks aggressively expand credit access. Fintech lending has exposed vulnerable consumers to borrowing costs reaching 440%. The nationwide credit boom has become a central economic concern ahead of upcoming general elections.
