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Brazilian Digital Bank Nubank Faces Brand Compliance Issue, Seeks to Acquire Small Bank

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Brazilian digital bank Nubank faces compliance obligations under new Central Bank rules. The regulations, effective since November, bar non-banks from using the word “bank” in their names. Nubank, which lacks a Brazilian banking license, is now seeking to acquire a small bank to stay compliant. The move also aligns with broader Countering the Financing of Terrorism measures tightening financial sector oversight.
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