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URGENT! CAIXA CANCELS CONSIGNMENT FOR BRAZIL AID AFTER BOLSONARO DEFEAT

A report on the UOL website published this Friday morning (25) states that Caixa Econômica Federal suspended new hiring and releases of the payroll loan for beneficiaries of the Auxílio Brasil Program on November 14, however, the public bank has not yet disclosed the official cancellation.

Work related to the payroll loan was paralyzed in the week before the second round of the elections due to a directive from Minister Aroldo Cedraz, from the Federal Court of Auditors (TCU), who was investigating whether a possible use of the credit for electoral purposes by the Bolsonaro government could be harming Caixa, which is a company belonging to the state.

However, in his final report, the minister said that electoral use should be investigated by the Superior Electoral Court (TSE) and said he had not found irregularities that could cause damage to the bank, advising that the credit could be offered again normally in the first November week.

However, at the beginning of the month, Caixa informed that work related to the Auxílio Brasil payroll loan would be suspended for two weeks, the time necessary for the bank, Dataprev and the Ministry of Citizenship close the payroll of the income transfer program, and because of that, the loan should be released again for new hires on the 14th of this month.

Auxilio Brasil loan canceled

However, what has happened in practice is that since the supposed release for new hires, on November 14, the Caixa Tem application and Caixa branch systems have denied the vast majority of new requests for Auxílio Brasil payroll deductions, and according to the UOL report, this is due to an internal change in the rules for granting the loan.

The report claims to have obtained documents passed on internally to agency employees stating that the rules and requirements for releasing the Auxílio Brasil loan and other types of credit had been changed for customers who offer the highest risk of default, which are the the vast majority of beneficiaries of the Brazil Aid.

Cancellation of the Auxílio Brasil payroll at Caixa

According to UOL, what also draws attention is that the new rules were established on November 14, the date on which the credit was released for contracting again, thus, despite the release of the Auxílio Brasil loan in theory, in practice the bank stopped approving requests already made and no longer authorizes new requests.

The site also reported that it confirmed receipt of documents with employees from three different states, and an employee of a Caixa agency in Curitiba (PR) reported to the report that “During the election period, we made about 30 Aid consignments per day, few were denied. Now, almost all are denied.”

At the beginning of the credit offer, the public bank even informed some rules that needed to be followed so that the beneficiaries of the Auxílio Brasil could contract the payroll loan, but never fully revealed the criteria analyzed.

Consigned loan from Auxílio Brasil

So far, Caixa has not officially announced that it canceled the payroll or that it changed the rules, but informed UOL that “the granting of credit follows internal governance criteria, based on the market context, on the monitoring of its products and on the bank’s strategies”🇧🇷

The payroll loan for beneficiaries of the Auxílio Brasil Program was released for contracting by the Ministry of Citizenship on October 10, when twelve companies were authorized to offer the credit, with Caixa being the only large bank and the only state-owned company to work with the loan.

Of the twelve companies, only four worked in fact with the payroll, but it was Caixa that had the greatest relevance, and since the week before the elections, the beneficiaries are no longer able to apply for the loan or receive a clear position on the requests already made that are still being processed or that were denied.

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