Brazil Takes Control of Banco BVA for Violating Norms
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Brazil’s central bank took control of Banco BVA SA, the seventh lender seized or bailed out by regulators since 2010, after finding violations of industry standards and deteriorating finances.
The central bank is taking “all possible measures to investigate,” the authority said today in a statement, adding that it had to act against BVA because of “the deterioration of its economic and financial situation and the violations of norms that discipline the institution’s activity.”