Paraguay president impeached as Ueno Bank collapse freezes savings
Ueno Bank was placed into resolution, leaving savers unable to access their money and millions of accounts frozen.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
Ueno Bank was placed into resolution, leaving savers unable to access their money and millions of accounts frozen. Protests have grown, and President Santiago Peña, who was tied to the bank's parent company, faced impeachment. Lawmakers have since voted to impeach him.
Timeline
- Nov 5, 1:49 PM ET: Peña resigned as president amid the Ueno Bank crisis, and Vice President Pedro Alliana was set to take office.
- Nov 5, 10:49 PM ET: Lawmakers voted to impeach Peña over an alleged conflict of interest.
- Nov 6, 2:16 PM ET: Protests over the bank lockout intensified as savers burned their cards and demanded the president's removal.
Coverage
- Paraguay's largest digital bank collapses (americanbanker.com)
- Ueno Bank collapse exposes oversight gaps in digital banking sector: GlobalData (retailbankerinternational.com)
- Paraguay's ueno Bank Collapse Leaves Millions Without Account Access - Fintech Schweiz Digital Finance News (fintechnews.ch)
- Paraguay raids former president Pena's home after bank collapse
- Paraguay ousts President Santiago Peña over Ueno Bank collapse
- Paraguay's ex-president Peña charged, detained over Ueno Bank collapse
- Paraguay's president quits after Ueno Bank collapse
- Paraguay's central bank takes control of Ueno digital lender
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