Central Bank Chief and Coaf Head Set for Nov. 25 Senate Hearing on Fintech ‘Bus Accounts’ and Santander FX Case

Overview

• CAE chair Renan Calheiros announced that Gabriel Galípolo and Ricardo Saadi will appear before the Senate’s economic committee on November 25.
• The hearing centers on so‑called ‘bus accounts’—pooled accounts fintechs hold at traditional banks—that can mask ultimate beneficiaries.
• Lawmakers cite reports that criminal groups, including the PCC, exploited these structures for money laundering, and note the Central Bank issued a rule this week banning the model.
• Galípolo is also expected to explain the Central Bank’s commitment term in the Santander foreign‑exchange controls case involving former BC chief Roberto Campos Neto, who paid R$300,000 before the process was archived.
• Senators want BC and Coaf to detail how supervision and transaction tracing will be reinforced across banks and the fast‑growing fintech sector.