Brazil’s Central Bank (BC) on Tuesday (20) ordered the extrajudicial liquidation of Will Bank, expanding the fallout from the collapse of Banco Master and adding R$6.3 billion in deposits that will now have to be covered by the Credit Guarantee Fund (FGC). The move comes two months after Master itself was placed into liquidation, a period during which the BC had expected the sale of Will Bank to investors to be completed, which ultimately did not happen.
On the previous day, Mastercard said it had stopped accepting transactions on cards issued by Will Bank and had enforced guarantees, seizing stakes in companies such as Banco de Brasília (BRB) and Westwing. The fintech had been acquired by Master in 2024 and focused on…