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Lula Ally Leaves Senate Leadership Job Amid Ties to Bank Scandal

Lula Ally Leaves Senate Leadership Job Amid Ties to Bank Scandal
Bloomberg Markets Wednesday 24 June 2026, 21:48 UTC By Martha Viotti Beck, Barbara Nascimento 1 min read
Key Points

Lula Ally Leaves Senate Leadership Job Amid Ties to Bank Scandal The Brazilian Senate leader from President Luiz Inácio Lula da Silva’s party stepped down from his post after a police investigation uncovered connections to failed lender Banco Master. Senator Jaques Wagner left the government role on Wednesday after a meeting with the leftist leader following days of pressure from fellow Lula allies who argued that his continued presence could damage the president’s looming reelection bid.

Lula Ally Leaves Senate Leadership Job Amid Ties to Bank Scandal The Brazilian Senate leader from President Luiz Inácio Lula da Silva’s party stepped down from his post after a police investigation uncovered connections to failed lender Banco Master. Senator Jaques Wagner left the government role on Wednesday after a meeting with the leftist leader following days of pressure from fellow Lula allies who argued that his continued presence could damage the president’s looming reelection bid.
Lula Ally (PERSON) Senate (ORG) Bank Scandal The Brazilian (ORG) Luiz Inácio (PERSON) Lula da Silva (PERSON) Banco Master (ORG) Jaques Wagner (PERSON) Lula (PERSON)
Originally published by Bloomberg Markets Read original →

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