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High delinquencies spell trouble for Brazil's fintechs | Giovanna Bellotti Azevedo & Cristiane Lucchesi

Brazilian fintechs are getting hit by a wave of defaults on loans they made to customers that the nation’s bigger, legacy banks wouldn’t touch, causing risky layers of an asset-backed credit market to collapse. The companies, which include Goldman Sachs-backed Open Co and Nexoos, are seeing delinquencies on some of… ....

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