Impacts of the General Data Protection Law on Brazilian Financial Institutions

Abstract

This article deals with the adaptation by Brazilian financial institutions to the General Data Protection Law (no 13,709/2018), analyzing the main challenges to its implementation in the segment. Also, the study has the scope of identifying the legal risks pointed out by the doctrine and technical reports on information security to the protection of personal data, especially with the advent of new technologies used by the sector, as well as to verify possible conflicting relationship between the data protection now standardized and the regulatory legislation related to banks. Finally, the dichotomy between the development of data economy and the need to protect the personal data of the banking consumer will be investigated.