Brazilian Regulators Strained Amid Instant Payment and FinTech Boom

Brazil’s central bank is reportedly facing budget and staffing strain amid a financial system boom. As Bloomberg News reported Tuesday (May 12), the regulator’s staffing levels have fallen by 42% in the last decade, while the number of regulated financial institutions has surged by 50% during the same period of time. That crunch is projected to worsen, the report added, with roughly 17% of the 600 workers responsible for financial regulation eligible for retirement.