The Brazilian Social Security CPI (INSS) has finally set a date for the testimony of banker Daniel Vorcaro, who is scheduled to appear on February 23. This testimony follows multiple delays; Vorcaro's hearing was originally planned for February 5 but was postponed twice, first to February 19 and then to February 26. Vorcaro, the former owner of the now-liquidated Banco Master, is expected to address issues specifically related to loans offered by his former bank, focusing on consumer complaints regarding payroll-deductible loans.

In November, the National Consumer Secretary (Senacon) presented a report to the INSS CPI detailing the number of complaints against financial institutions associated with payroll loans. This situation highlights the growing concerns surrounding banking practices in Brazil, especially after the Central Bank's decision to liquidate Banco Master in November. Vorcaro's testimony is viewed as crucial for understanding the extent of these issues, as well as accountability in the financial sector regarding consumer loans.

The persistence of complaints about payroll loans underscores the need for regulatory scrutiny in Brazil's financial system. The INSS CPI aims to investigate how these loans have been administered and the implications for consumers, particularly those who may have suffered due to malpractices. Vorcaro's upcoming testimony is anticipated to shed light on these matters, potentially paving the way for reforms in consumer protection within the banking industry.