Minister Augusto Cedraz, of the TCU (Union Court of Auditors), asked Caixa Econômica Federal to pronounce, within 24 hours, on possible irregularities in the granting of payroll-deductible loans to beneficiaries of Auxílio Brasil.
In a decision this Monday (24), he stressed the urgency of the analysis due to “the volume of loans already granted and the speed of their release” and said that the deadline will start to be counted from the notification of Caixa.
The measure was a response to the representation of Deputy Attorney Lucas Furtado, from the Public Ministry of Accounts, who asked for the suspension of the loan, in order to prevent its use for purely electoral purposes.
Cedraz, however, asked Caixa for more information to decide on the interruption, but said that this does not prevent the bank, as a matter of prudence, from immediately ceasing to release new amounts from loans in this modality “as a measure of zeal with the public”, until the court decides on the matter.
The initiative suggested by the minister, according to him, could be taken by Caixa until the court examines the documentation to be forwarded “and deems it capable of demonstrating that the serious irregularities suggested in the representation are not present.”
In his decision, Cedraz asks Caixa to forward to TCU opinions, technical notes, resolutions and collegiate decisions that deal with pricing, concession criteria, interest rates, profitability and expected default.
It also requests documents on the approval of the credit line related to payroll-deductible credit for beneficiaries of Auxílio Brasil and risk management associated with this operation and that the case files be forwarded to the presidency of the TSE (Superior Electoral Court).
The deputy prosecutor of the Public Ministry at the TCU argued, in his request to the court, that the accelerated pace of release of loans granted by Caixa raises doubts about the purposes and respect for procedures that safeguard the bank’s interests and the public interest.
Furtado said that it is not unreasonable to suppose that the true purpose of these actions, “or at least the way they have been carried out, is to electorally benefit the current president of the republic, and candidate for reelection”.
“In the current scenario, with the approach of the second round of elections and with the difficulties faced by the president in the polls of voting intentions, everything indicates that this is a measure intended to primarily serve political-electoral interests, which relegate the public interest to second place. plan, with a view to obtaining personal benefits to the detriment of the population”, he said.
In three business days in the first week of operation, Caixa released R$ 1.8 billion in payroll-deductible loans to 700,000 beneficiaries of Auxílio Brasil and BPC (Benefício de Prestação Continuada). THE Sheet requested updated data, but the bank said a new balance sheet would be released “in due course”.
Caixa began offering the new loan on October 11, less than three weeks before the second round of elections. The release of payroll loans is used as a trump card in the reelection campaign of President Jair Bolsonaro (PL), who ended the first round behind Luiz Inácio Lula da Silva (PT).
President Bolsonaro thus expanded the use of the public machine in his favor and launched a series of measures aimed at the low-income public, such as anticipation of the Auxílio Brasil calendar, a 13th promise for women who receive assistance income in 2023 and authorization to use the FGTS (Fundo de Garantia do Tempo de Serviço) in the future to finance real estate.
On the day of the launch of the new credit modality, Caixa’s vice president of corporate management, Danielle Calazans, stated that the announcement before the second round “was not a matter of electoral background”.
She stressed that the measure was widely debated in the National Congress, that the Ministry of Citizenship made the regulatory adjustments and that Caixa is the operator of federal government policies.
Caixa president Daniella Marques has argued that customers will be able to use the Auxílio Brasil payroll and other credit lines with lower interest rates to exchange more expensive debts or for entrepreneurship. She also says she has “technical autonomy to exercise the presidency of the bank”.
The interest rate for beneficiaries of Auxílio Brasil na Caixa is 3.45% per month — below the ceiling of 3.5% per month set by the Ministry of Citizenship. However, it is higher than the payroll loan for INSS (National Social Security Institute) retirees and pensioners, up to 2.14% per month.
The loan can be made in up to two years, in 24 successive monthly installments. If the beneficiary loses the right to Auxílio Brasil while the loan has not yet been fully paid off, the debt remains.
“He [beneficiário] continues with the debt, but we have no way to debit it anymore [da conta em que a pessoa recebe o Auxílio Brasil]can generate a possible default”, said vice president of retail business at Caixa, Thays Cintra, on the day of the launch.
Specialists consider the loan modality risky for beneficiaries of Auxílio Brasil.
“Credit is for anticipating consumption or, at best, giving microcredit to help generate income. But you have to be able to pay it up front”, said Silvia Matos, coordinator of the Macro Bulletin of FGV Ibre (Instituto Brasileiro of Economics at Fundação Getúlio Vargas).
“For these poorer families, who don’t have savings and consume everything at their limit, what will they do in the future? Go hungry? They don’t have the capacity to reduce consumption. Credit for the Auxilio Brasil group doesn’t make sense,” he added. .
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