FGC
Central Bank liquidates Will Bank in Master scandal
Reported by AI Image generated by AI
Brazil's Central Bank decreed the liquidation of Will Bank, the digital arm of the Master group, on Wednesday (21) after it failed to meet commitments with the Mastercard network. The move raises costs for the Credit Guarantor Fund (FGC) to around R$ 50 billion, the fund's largest ever. Customers report difficulties accessing funds and paying bills, as STF investigations into bank frauds face ongoing pressure.
Brazil's Monetary Council (CMN) approved new rules for the Credit Guarantor Fund (FGC), requiring banks with excessive FGC-backed fundraising to invest part of the funds in federal public bonds. The measures aim to mitigate moral hazard and strengthen liquidity, effective from June 1, 2026. Liquidity requirements were also expanded to mid-sized banks.
Reported by AI
Ludovic Mbock, a professional Street Fighter player, has been granted a low bond following a hearing, allowing him to return home to Maryland. The decision comes less than a month after his detention by U.S. Immigration and Customs Enforcement (ICE). A follow-up hearing is scheduled for May.