backThe Superior Labor Court (TST) of Brazil has recently clarified that the precedent established under Theme 177, which classifies employees of credit card administrators as financial sector workers, does not apply to fintechs or payment institutions (PIs). The ruling, issued in a labor claim filed by a former employee, emphasized through Justice Aloysio Corrêa da Veiga that the legal thesis is limited to credit card administrators and should not be extended to other types of financial technology entities.
According to the TST, fintechs and PIs have a distinct legal and regulatory framework established under Law No. 12.865/2013 and supervised by the Central Bank of Brazil. Consequently, their employees are not entitled to the specific working conditions and collective rights granted to financial institution workers, such as the six-hour workday. The decision reinforces the legal separation between financial institutions and fintechs, providing greater regulatory clarity and stability for the digital finance sector.
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