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In addition to the Auxílio Brasil payroll loan, other types of loans were suspended by the financial institution

A Caixa Econômica Federal has made cuts in its lines of loan after the results of the elections. In addition to the Brazil Aid payroll, other conditions of credit were limited by the bank in the last month and suspended for states and municipalities.

According to the financial institution, the hiring limit determined annually by the CNM (National Monetary Council) is exhausted for this year.

General cut in loans

Shortly after the final result of the elections, situations were reported of beneficiaries of Auxílio Brasil who had their payroll requests canceled by the bank. According to information obtained by UOL, there was a significant cut in the release of money for this modality.

In addition to this episode, other older lines of credit, aimed at customers more prone to default, were interrupted “indefinitely” during the period.

In the last week, the loans for states and municipalities were suspended by the bank.

According to information from the newspaper O Globo, the cut occurred in all lines, since the bank’s budget is compromised and the institution needs to follow “international limits of prudence”.

Consignment of the Brazil Aid

The Auxílio Brasil consignment was highly adhered to as soon as it was released. It is worth remembering that the regulation of the modality was made official at the end of September. Caixa started to release the credit from the 11th of October.

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As of the release, from October 11th to 13th, around R$ 1.8 billion were released to more than 700 thousand beneficiaries. In view of the expressive numbers, the Public Ministry asked for the suspension of the loan line on the grounds of suspicion that the release was carried out in order to benefit the re-election of the incumbent president, Jair Bolsonaro (PL).

After the official announcement of the results of the polls and the victory of Lula (PT), the rules of payroll linked to the social program changed. In fact, the hiring system was suspended on November 1st.

What does the Box say?

Regarding the limitation on credit services, Caixa ensures that the financial institution’s credit granting follows internal criteria based on the market context and strategic factors.

Regarding the suspension of loans to states and municipalities, the bank stated that the limit determined by the CNM for 2022 has been exhausted and therefore new requests will not be accepted.

Imagem: Alison Nunes Calazans/shutterstock.com

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