Brazil's Lula proposes banning multiple credit cards per person in credit reform push

President Lula announced discussions with the Central Bank to prohibit banks from issuing more than one credit card per person, framing it as part of a broader 'moralization' of credit and economic reform. The proposal is preliminary and faces significant implementation hurdles, including potential impacts on consumer credit access and banking operations. This signals a populist shift in economic policy that could affect financial markets and credit conditions in Brazil.