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Brazil: Regulator launches another fintech probe

By  |  May 2, 2019

Brazil’s competition authority is investigating whether Bradesco, one of the country’s largest banks, broke competition rules by restricting a financial management app from accessing its customers’ data.

The watchdog said Bradesco may be impeding its clients from connecting Guiabolso’s app to their checking accounts.

Bradesco denied in a statement any wrongdoing and said the issue with Guiabolso involved client data security and bank secrecy rules. Guiabolso declined to comment on the matter.

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