THE HYPERVULNERABILITY OF ELDERLY PEOPLE IN THE CONSUMER MARKET AND THE RISKS OF CONSIGNABLE MARGIN RESERVE (CMR)

Abstract

This article was prepared as a requirement for approval in the Discipline of Completion of Course Work II, taught by Professor Ittana de Oliveira Lins, in the Law course of the faculty of Ilhéus. This theme was chosen, with the intention of debating and showing others, a problem faced in the social environment by the most vulnerable, the elderly, mai nly, retirees and pensioners who do not have the proper legal knowledge related to contracts, that is, necessary information that should be made available by banking institutions that only aim for profit, following the principle of information, since according to article 6, item III, of the Consumer Protection Code, it is a basic right of consumers to clearly inform about certain types of services offered, specifying the quantity, quality, characteristics and risks they present when contracting a certain loan that, after a long period of paying the installments, discovers that it is not a simple consignable loan, but a loan with a Consignable Margin Reserve, which deducted from the continuous installments, received by the National Institute of Social Security, the minimum of the credit card bill, generating and accumulating interest on interest, automatically repaying and increasing the number of installments that are characterized by having no end, that is, lifetime.