Savings: R$4.6 billion were recovered in confiscations – 04/15/2024 – Panel SA

Savers harmed by the Bresser, Verão and Collor I and II plans between the 1980s and 1990s have already had R$4.6 billion returned after an agreement with banks approved by the Federal Supreme Court.

According to the Brazilian Front for Savers (Febrapo), at least 300,000 people were reimbursed for money confiscated under previous governments.

However, there are still a large number who have not adhered to the “Economic Plans Agreement”, designed to close the lawsuits pending in court and release the money within 15 days.

“Those who choose not to adhere to the agreement will continue with their legal actions, but without guarantee or provision of compensation, because the processes are suspended by the STF for an indefinite period”, says Ana Carolina Selema, executive director of Febrapo.

Approved in 2018, the agreement was led by Febrapo, Idec (Institute for Consumer Protection), Febraban, AGU (Attorney General of the Union) and the Central Bank.

Direct savers who were affected by the economic plans and who have ongoing processes can join the agreement. Heirs, spouses, children, parents and up to 4th relatives are also entitled to access the agreement.

Calculations indicate that there are amounts available between R$3,000 and more than R$100,000. Due to the agreement, the discount on the amount to be paid is up to 19%, in addition to legal fees of 10% and the payment of 5% to Febrapo.

This division of values, however, is pointed out by lawyers opposed to the agreement as advantageous for the banks.

The processes have been paralyzed in court since 2021, following a decision by Minister Gilmar Mendes, who is trying to force savers to adhere to the agreement. There is no date for resuming the processes.

Information about the open cases and who can receive the money is available at the Court of Justice in the state where the person filed the petition.

According to Febrapo, actions against private banks and Banco do Brasil are the responsibility of the state courts, while actions against Caixa Econômica Federal are pending in the federal courts.

With Diego Felix

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