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Brazil Supreme Court to Discuss Ethics Code as Justices Embroiled in Multibillion-Dollar Scandal
The Supreme Court moves to implement a Code of Ethics following a multibillion-reais fraud scandal impacting 1.6 million depositors and raising institutional trust concerns.
- On January 21, 2026, Brazil's Central Bank ordered the extrajudicial liquidation of Will Financeira SA after Mastercard suspended Will Bank cards for missed settlement obligations.
- Regulators said liquidation followed failed market rescue efforts after Banco Master, Will's controller, was liquidated in November and Mastercard blocked collateral since last year.
- FGC reports payouts of R$40.6 billion to about 800,000 Master investors and added R$6.3 billion, raising the final impact to R$46.9 billion.
- A liquidator has suspended operations and begun mapping assets, while customers will be compensated by the Credit Guarantee Fund though contracts, loans and credit cards remain enforceable.
- Investigators say the scheme involves alleged trading of non-existent securities, with triangulations totalling about $2.1 billion linked to Reag and dozens of partners and executives arrested as Finance Minister Fernando Haddad warned of historic fraud.
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27 Articles
27 Articles
The speech by the President of the Senate at the opening of the work in 2026 highlights the tension between Executive, Legislative and Judiciary
·São Paulo, Brazil
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brazilian financial system is quite taxable and solid, strengthening specialists
·Brazil
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Brazil’s Central Bank Liquidates Will Bank As High-Yield Funding Model Unravels
Key Points Brazil’s central bank liquidated Will Financeira after its controller, Banco Master, collapsed under special administration. A missed obligation inside Mastercard’s arrangement led to a block that cut off cards and sped up the run. Allegations around high-yield funding and complex “triangulations” are now stressing Brazil’s deposit guarantee system. A modern bank can die […]
·Brazil
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Coverage Details
Total News Sources27
Leaning Left3Leaning Right2Center3Last UpdatedBias Distribution38% Left, 37% Center
Bias Distribution
- 38% of the sources lean Left, 37% of the sources are Center
38% Left
L 38%
C 37%
R 25%
Factuality
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