Bank is convicted of charging abusive interest on loan contracts

Interest rates charged far above the market average

In the Brazilian system, banks are free to charge consumers interest rates as they wish. Unfortunately, consumers are the ones who end up suffering the consequences, facing problems and financial difficulties in assuming abusive and unfair obligations. By charging abusive interest rates, banks and financial institutions are able to enrich themselves at the expense of consumers who are in a situation of inferiority and, often, in a situation of vulnerability. In this way, they are able to take the maximum economic advantage possible from consumers, since there is no good faith in this type of relationship based on interest rates charged far above the market average.

Jurisprudence of the Court of Justice of Piauí

The Court of Justice of Piauí, following the understanding of the Superior Court of Justice - STJ, ordered the Bank to return double the amounts paid in excess due to the Abusive Interest charged in the contracts questioned in Court, with the Consumer having managed to fulfill with great difficulty the unfairly excessive obligation provided for in the contract instruments, having suffered losses in meeting his basic vital needs. The decision was handed down by the 3rd Specialized Civil Chamber, by Judge RICARDO GENTIL EULÁLIO DANTAS, in the proceedings of the CIVIL APPEAL (198) - 0800377-85.2021.8.18.0078. In the judgment, the Judge highlighted that:

"In this case, the failure to provide the service is clear, due to the imposition of abusive interest rates on the consumer in the case at hand. Thus, moral damage is configured in re ipsa, inexorably deriving from the offensive fact itself, in such a way that, once this fact is proven, ipso facto, moral damage is demonstrated, in a typical natural presumption, a presumption hominis or facti, which arises from the rules of common experience. Thus, to measure the quantum, I note that in similar cases, the amount of R$5,000.00 is set with common sense and prudent discretion by the judge. […]”.

Justice RICARDO GENTIL EULÁLIO DANTAS granted the Consumer's appeal to reduce the astronomical interest charged in the contracts in question, to apply in this case the average market rate at the time of the contract, and the Bank must Return to the Consumer who was the victim of the abuse the amounts charged in excess in double, and the Bank will ultimately be ordered to pay compensation for moral damages to the Consumer for the losses incurred.

Follow the posts on the topic "Abusive Interest", which has been divided into 3 (three) parts, with the next publication on 07/16/2024 at 12:00 p.m. Stay tuned...

REFERENCES

BRAZIL. Law No. 10,406 of January 10, 2002. Institutes the Civil Code. Official Gazette of the Union: section 1, Brasília, DF, year 139, no. 8, p.

BRAZIL. Court of Justice of Piauí. 3rd Specialized Civil Chamber. Civil Appeal No. 0800377-85.2021.8.18.0078. Appellant: Antonia Maria da Conceicao. Respondent: Crefisa SA Credito Financiamento e Investimentos. Rapporteur: Judge Ricardo Gentil Eulálio Dantas. Judgment of March 27, 2024.