This is a topic that always comes up again in times of high SELIC rates. In this scenario, it is common for financial institutions to be challenged in court for an alleged abuse in charging interest.
Recently, the São Paulo Court of Justice, through the 20th Chamber of Private Law, consolidated its understanding that banks must limit the remunerative interest rates charged in their contracts with clients to the average practiced in the market.
This conclusion was adopted, in particular, in a Personal Loan Review Action, in which it was shown that the defendant financial institution was charging an interest rate of 57.72% p.a. According to information from the Central Bank (BACEN), the average rate practiced by the market during the same period as the contract in question was 18.98%.
Given that the defendant bank did not justify the reason for the discrepancy, the lower court decision that had dismissed the lawsuit was overturned to determine the amount owed according to the average rate indicated above.
This decision confirms peaceful national case law already adopted in previous historical periods when the SELIC rate was in the double digits.
Therefore, given that the country’s economic context does not indicate a significant decrease in the SELIC rate in the coming quarters, revision actions are once again an alternative for those who wish to balance the financial impact of their contracts.
Marcos Martins Advogados is attentive to new legislation and case law in order to provide adequate and effective advice to our clients.
