Tag: Business Continuity

Brazilian Superior Court recognizes banks’ right to unilaterally terminate checking accounts

Brazil’s Superior Court of Justice has ruled, under the binding repetitive appeals procedure, that financial institutions may unilaterally terminate checking account agreements. In Theme 1,119, the Court’s Second Section held that Article 39, IX, of the Brazilian Consumer Protection Code does not prevent a bank from terminating an existing checking account relationship. The ruling does […]