TechFlow news, December 12 — According to Bloomberg, Brazilian digital financial services company Nubank is facing brand name compliance issues. New regulations approved by Brazil's Central Bank in November prohibit companies without banking licenses from using the word "bank" or its foreign equivalents in their branding.
Despite its name, Nubank does not actually hold a banking license in Brazil, making it a target of the new rules. To resolve this compliance issue, Nubank is seeking to acquire a small bank to maintain the legal use of its brand name.
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