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Brazilian Senate Hits 42 Signatures to Open Banco Master CPI

The move puts an immediate procedural decision on Senate President Davi Alcolumbre, since a Senate commission can be initiated at the first session on February 1.

Overview

  • The request by Senator Eduardo Girão reached the required one-third of the chamber, totaling 42 signatures for a Senate inquiry into alleged Banco Master fraud.
  • Once the request is read at the chamber’s first deliberative session, leaders can appoint the commission’s chair and formally begin the investigation.
  • A parallel bid for a mixed congressional inquiry led by Deputy Carlos Jordy has already surpassed the signature threshold, with reports citing 197 to more than 200 endorsements.
  • Additional proposals from deputies Heloísa Helena, Fernanda Melchionna, and Rodrigo Rollemberg continue to collect support in the Chamber of Deputies.
  • The Federal Police’s Compliance Zero operation, now in its second phase, estimates potential losses of up to R$ 12.2 billion, spurring congressional moves to investigate.